Avangrid (NYSE:AGR) Coverage Initiated at StockNews.com

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

Avangrid Stock Up 0.1 %

Shares of NYSE:AGR opened at $35.68 on Tuesday. The company has a quick ratio of 0.44, a current ratio of 0.52 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $13.80 billion, a P/E ratio of 15.45, a P/E/G ratio of 2.66 and a beta of 0.55. Avangrid has a 52-week low of $27.46 and a 52-week high of $37.70. The stock’s fifty day simple moving average is $35.65 and its 200-day simple moving average is $35.50.

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

Institutional Trading of Avangrid

Hedge funds and other institutional investors have recently modified their holdings of the business. Quent Capital LLC raised its stake in shares of Avangrid by 31.0% in the 1st quarter. Quent Capital LLC now owns 1,486 shares of the utilities provider’s stock valued at $54,000 after purchasing an additional 352 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Avangrid by 2.6% during the second quarter. Signaturefd LLC now owns 16,011 shares of the utilities provider’s stock valued at $569,000 after purchasing an additional 399 shares during the last quarter. Royal London Asset Management Ltd. raised its position in shares of Avangrid by 1.7% during the 2nd quarter. Royal London Asset Management Ltd. now owns 28,005 shares of the utilities provider’s stock worth $995,000 after purchasing an additional 471 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Avangrid by 2.8% in the 2nd 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 last quarter. Finally, Bell Investment Advisors Inc boosted its position in Avangrid by 163.9% during the 1st quarter. Bell Investment Advisors Inc now owns 863 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 536 shares during the period. 13.12% of the stock is owned by hedge funds and other institutional investors.

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.