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

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

Avangrid Stock Performance

NYSE AGR opened at $35.90 on Wednesday. Avangrid has a 52-week low of $29.33 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 company has a market capitalization of $13.89 billion, a P/E ratio of 12.34, a P/E/G ratio of 2.53 and a beta of 0.55. The company has a fifty day moving average of $35.72 and a 200-day moving average of $35.82.

Avangrid (NYSE:AGR) last released its quarterly earnings data on Tuesday, October 22nd. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter in the previous year, the company earned $0.27 earnings per share. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, equities research analysts predict that Avangrid will post 2.34 EPS for the current fiscal year.

Avangrid Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.90%. The ex-dividend date of this dividend is Monday, December 2nd. Avangrid’s payout ratio is 60.48%.

Institutional Investors Weigh In On Avangrid

Hedge funds have recently bought and sold shares of the business. QRG Capital Management Inc. boosted its stake in Avangrid by 225.0% during the second quarter. QRG Capital Management Inc. now owns 33,050 shares of the utilities provider’s stock worth $1,174,000 after acquiring an additional 22,880 shares in the last quarter. Natixis boosted its stake in Avangrid by 3,122.3% during the first quarter. Natixis now owns 166,432 shares of the utilities provider’s stock worth $6,065,000 after acquiring an additional 161,267 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in Avangrid during the first quarter worth about $4,396,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of Avangrid in the first quarter worth approximately $4,504,000. Finally, Creative Planning lifted its stake in shares of Avangrid by 17.4% in the third quarter. Creative Planning now owns 37,986 shares of the utilities provider’s stock worth $1,360,000 after buying an additional 5,618 shares in the last quarter. Institutional investors own 13.12% of the company’s stock.

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.