Avangrid (NYSE:AGR) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Avangrid (NYSE:AGR) in a research note published on Friday. The brokerage issued a hold rating on the utilities provider’s stock.

Avangrid Stock Down 0.4 %

Shares of Avangrid stock opened at $36.08 on Friday. Avangrid has a 52-week low of $29.71 and a 52-week 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 business’s 50 day simple moving average is $35.78 and its 200 day simple moving average is $35.76. The firm has a market cap of $13.96 billion, a PE ratio of 12.40, a P/E/G ratio of 2.58 and a beta of 0.55.

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

Avangrid Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a $0.44 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.88%. Avangrid’s payout ratio is 60.48%.

Hedge Funds Weigh In On Avangrid

Several institutional investors and hedge funds have recently modified their holdings of the stock. Signaturefd LLC boosted its holdings in shares of Avangrid by 1.8% during the 3rd quarter. Signaturefd LLC now owns 16,301 shares of the utilities provider’s stock worth $583,000 after buying an additional 290 shares during the period. Royal London Asset Management Ltd. boosted its holdings in shares of Avangrid by 1.7% during the second quarter. Royal London Asset Management Ltd. now owns 28,005 shares of the utilities provider’s stock worth $995,000 after acquiring an additional 471 shares during the period. CIBC Asset Management Inc grew its position in shares of Avangrid by 4.2% in the third quarter. CIBC Asset Management Inc now owns 11,569 shares of the utilities provider’s stock valued at $414,000 after purchasing an additional 471 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Avangrid by 2.8% during the second quarter. Van ECK Associates Corp now owns 18,305 shares of the utilities provider’s stock worth $650,000 after purchasing an additional 499 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of Avangrid by 5.7% during the second quarter. American Century Companies Inc. now owns 10,303 shares of the utilities provider’s stock worth $366,000 after purchasing an additional 560 shares during the period. 13.12% of the stock is currently owned by institutional investors and hedge funds.

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.