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

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

Avangrid Stock Performance

AGR stock traded up $0.12 during midday trading on Thursday, reaching $35.88. 140,286 shares of the company’s stock traded hands, compared to its average volume of 773,340. The firm has a market capitalization of $13.88 billion, a PE ratio of 12.32, a price-to-earnings-growth ratio of 2.55 and a beta of 0.55. Avangrid has a 52 week low of $29.71 and a 52 week high of $37.70. The company has a 50-day moving average price of $35.74 and a two-hundred day moving average price of $35.79. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.44 and a current ratio of 0.51.

Avangrid (NYSE:AGR) last released its quarterly earnings results on Tuesday, October 22nd. The utilities provider reported $0.55 earnings per share 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 quarter in the prior year, the firm posted $0.27 earnings per share. The business’s quarterly revenue was up 5.5% on a year-over-year basis. As a group, equities analysts anticipate that Avangrid will post 2.34 EPS for the current year.

Avangrid Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.76 annualized dividend and a yield of 4.91%. Avangrid’s payout ratio is 60.48%.

Institutional Trading of Avangrid

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