Avangrid (NYSE:AGR) Now Covered by StockNews.com

Equities researchers at StockNews.com assumed coverage on shares of Avangrid (NYSE:AGR) in a research note issued to investors on Tuesday. The brokerage set a “hold” rating on the utilities provider’s stock.

Avangrid Trading Down 0.2 %

Shares of NYSE:AGR opened at $35.27 on Tuesday. The firm has a fifty day moving average of $35.86 and a two-hundred day moving average of $34.37. The firm has a market capitalization of $13.65 billion, a P/E ratio of 15.27, a price-to-earnings-growth ratio of 2.65 and a beta of 0.55. Avangrid has a 12-month low of $27.46 and a 12-month high of $39.13. The company has a quick ratio of 0.50, a current ratio of 0.58 and a debt-to-equity ratio of 0.47.

Avangrid (NYSE:AGR) last issued its earnings results on Wednesday, April 24th. The utilities provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. The company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.54 billion. Avangrid had a net margin of 10.80% and a return on equity of 4.35%. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter last year, the business posted $0.64 EPS. On average, equities analysts expect that Avangrid will post 2.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Avangrid

Several institutional investors and hedge funds have recently modified their holdings of AGR. Headlands Technologies LLC bought a new position in Avangrid in the 1st quarter worth $26,000. Robeco Institutional Asset Management B.V. raised its holdings in Avangrid by 2,285.5% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 96,754 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 92,698 shares during the period. Bell Investment Advisors Inc raised its holdings in Avangrid by 163.9% in the 1st quarter. Bell Investment Advisors Inc now owns 863 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 536 shares during the period. Central Pacific Bank Trust Division bought a new position in Avangrid in the 1st quarter worth $36,000. Finally, BKM Wealth Management LLC bought a new position in Avangrid in the 4th quarter worth $41,000. 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.