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

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

Avangrid Stock Up 0.3 %

AGR stock opened at $35.70 on Wednesday. Avangrid has a one year low of $29.33 and a one year high of $37.70. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.44 and a current ratio of 0.51. The firm’s fifty day moving average is $35.72 and its 200 day moving average is $35.83. The firm has a market cap of $13.81 billion, a PE ratio of 12.27, a P/E/G ratio of 2.53 and a beta of 0.55.

Avangrid (NYSE:AGR) last posted its earnings results on Tuesday, October 22nd. The utilities provider reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.22. The firm had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.04 billion. Avangrid had a return on equity of 5.37% and a net margin of 12.89%. The company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period last year, the firm earned $0.27 EPS. On average, research analysts forecast that Avangrid will post 2.34 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Headlands Technologies LLC purchased a new position in Avangrid in the 1st quarter valued at $26,000. Blue Trust Inc. raised its position in shares of Avangrid by 244.9% in the third quarter. Blue Trust Inc. now owns 807 shares of the utilities provider’s stock valued at $29,000 after buying an additional 573 shares during the last quarter. Eastern Bank acquired a new stake in shares of Avangrid in the third quarter valued at about $30,000. Bell Investment Advisors Inc lifted its stake in shares of Avangrid by 163.9% in the first quarter. Bell Investment Advisors Inc now owns 863 shares of the utilities provider’s stock worth $31,000 after buying an additional 536 shares in the last quarter. Finally, Central Pacific Bank Trust Division acquired a new position in Avangrid during the first quarter worth about $36,000. Institutional investors and hedge funds 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.