StockNews.com Begins Coverage on Avangrid (NYSE:AGR)

Stock analysts at StockNews.com started coverage on shares of Avangrid (NYSE:AGR) in a note issued to investors on Thursday. The firm set a “hold” rating on the utilities provider’s stock.

Avangrid Price Performance

Shares of AGR opened at $36.02 on Thursday. The company has a quick ratio of 0.44, a current ratio of 0.51 and a debt-to-equity ratio of 0.52. The business has a fifty day moving average of $35.85 and a 200 day moving average of $35.74. The company has a market cap of $13.94 billion, a PE ratio of 12.38, a P/E/G ratio of 2.54 and a beta of 0.56. Avangrid has a 52-week low of $29.71 and a 52-week high of $37.70.

Avangrid (NYSE:AGR) last released its earnings results on Tuesday, October 22nd. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.22. The firm had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.04 billion. Avangrid had a net margin of 12.89% and a return on equity of 5.37%. The business’s revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the business earned $0.27 EPS. On average, sell-side analysts expect that Avangrid will post 2.34 EPS for the current year.

Hedge Funds Weigh In On Avangrid

A number of large investors have recently bought and sold shares of the business. Brooklyn Investment Group bought a new stake in shares of Avangrid during the third quarter worth $25,000. Blue Trust Inc. grew its holdings in shares of Avangrid by 244.9% in the third quarter. Blue Trust Inc. now owns 807 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 573 shares during the last quarter. Eastern Bank purchased a new position in Avangrid in the 3rd quarter worth about $30,000. Quarry LP bought a new stake in Avangrid during the 3rd quarter valued at about $47,000. Finally, Venturi Wealth Management LLC boosted its position in Avangrid by 1,939.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,978 shares of the utilities provider’s stock valued at $107,000 after buying an additional 2,832 shares during the period. Hedge funds and other institutional investors own 13.12% of the company’s stock.

About Avangrid

Avangrid, Inc, an energy services holding company, engages in the regulated energy transmission and distribution, and renewable energy generation businesses in the United States. The company operates through Networks and Renewables segments. It is involved in the generation, transmission, and distribution of electricity; and distribution, transportation, and sale of natural gas.