Avangrid (NYSE:AGR) Receives New Coverage from Analysts at StockNews.com

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

Avangrid Stock Down 0.1 %

Shares of NYSE:AGR opened at $35.75 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.44 and a current ratio of 0.52. Avangrid has a 52-week low of $28.03 and a 52-week high of $37.70. The firm has a market capitalization of $13.83 billion, a P/E ratio of 15.48, a P/E/G ratio of 2.67 and a beta of 0.55. The stock has a 50 day moving average price of $35.79 and a 200-day moving average price of $35.87.

Avangrid (NYSE:AGR) last announced its quarterly earnings data on Tuesday, July 23rd. The utilities provider reported $0.49 EPS for the quarter, beating the consensus estimate of $0.27 by $0.22. The business had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.72 billion. Avangrid had a return on equity of 4.87% and a net margin of 11.35%. The company’s revenue for the quarter was up 21.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.21 earnings per share. As a group, equities research analysts anticipate that Avangrid will post 2.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Natixis boosted its holdings in Avangrid by 3,122.3% in the first quarter. Natixis now owns 166,432 shares of the utilities provider’s stock worth $6,065,000 after purchasing an additional 161,267 shares during the last quarter. Versor Investments LP bought a new stake in shares of Avangrid during the 2nd quarter valued at $5,468,000. Marshall Wace LLP lifted its stake in shares of Avangrid by 973.5% during the 2nd quarter. Marshall Wace LLP now owns 150,602 shares of the utilities provider’s stock valued at $5,351,000 after buying an additional 136,573 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in Avangrid in the 1st quarter worth $4,504,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in Avangrid in the 1st quarter worth $4,396,000. Institutional investors own 13.12% of the company’s stock.

Avangrid Company Profile

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.