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

StockNews.com assumed coverage on shares of Avangrid (NYSE:AGR) in a research report sent to investors on Thursday morning. The brokerage issued a hold rating on the utilities provider’s stock.

Avangrid Trading Down 0.1 %

AGR opened at $35.76 on Thursday. The company has a quick ratio of 0.44, a current ratio of 0.52 and a debt-to-equity ratio of 0.49. Avangrid has a 52 week low of $27.46 and a 52 week high of $37.70. The business’s 50 day moving average is $35.73 and its two-hundred day moving average is $35.85. The firm has a market cap of $13.84 billion, a price-to-earnings ratio of 15.48, a price-to-earnings-growth ratio of 2.66 and a beta of 0.55.

Avangrid (NYSE:AGR) last announced its earnings results on Tuesday, July 23rd. The utilities provider reported $0.49 EPS for the quarter, beating analysts’ consensus estimates 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 in the previous year, the company posted $0.21 EPS. On average, research analysts predict that Avangrid will post 2.24 EPS for the current year.

Avangrid Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 2nd will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 4.92%. The ex-dividend date is Friday, August 30th. Avangrid’s dividend payout ratio (DPR) is presently 76.19%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of AGR. ING Groep NV purchased a new position in Avangrid in the 4th quarter valued at $1,027,000. Robeco Institutional Asset Management B.V. increased its stake in shares of Avangrid by 2,285.5% during the fourth 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. GSA Capital Partners LLP purchased a new position in Avangrid during the first quarter worth about $1,598,000. QRG Capital Management Inc. lifted its position in Avangrid by 225.0% in the second quarter. QRG Capital Management Inc. now owns 33,050 shares of the utilities provider’s stock valued at $1,174,000 after purchasing an additional 22,880 shares during the period. Finally, Natixis boosted its holdings in Avangrid by 3,122.3% in the 1st quarter. Natixis now owns 166,432 shares of the utilities provider’s stock valued at $6,065,000 after purchasing an additional 161,267 shares in the last quarter. 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.