Avangrid (NYSE:AGR) Earns Hold Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Avangrid (NYSE:AGR) in a research note issued to investors on Sunday. The firm issued a hold rating on the utilities provider’s stock.

Avangrid Stock Performance

NYSE AGR opened at $35.54 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.51 and a quick ratio of 0.44. Avangrid has a 1-year low of $29.71 and a 1-year high of $37.70. The firm has a market capitalization of $13.75 billion, a P/E ratio of 12.21, a P/E/G ratio of 2.53 and a beta of 0.56. The business’s 50-day simple moving average is $35.79 and its 200-day simple moving average is $35.70.

Avangrid (NYSE:AGR) last issued its earnings results on Tuesday, October 22nd. The utilities provider reported $0.55 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 business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.04 billion. During the same quarter last year, the firm posted $0.27 EPS. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. Equities analysts predict that Avangrid will post 2.34 EPS for the current year.

Avangrid Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a $0.44 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.76 annualized dividend and a dividend yield of 4.95%. Avangrid’s dividend payout ratio is currently 60.48%.

Hedge Funds Weigh In On Avangrid

Several institutional investors and hedge funds have recently modified their holdings of AGR. DGS Capital Management LLC grew its stake in shares of Avangrid by 6.2% in the third quarter. DGS Capital Management LLC now owns 16,864 shares of the utilities provider’s stock worth $604,000 after acquiring an additional 986 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Avangrid by 9.1% in the 3rd quarter. Franklin Resources Inc. now owns 7,194 shares of the utilities provider’s stock worth $257,000 after buying an additional 603 shares in the last quarter. Sanctuary Advisors LLC bought a new position in shares of Avangrid during the 3rd quarter worth approximately $330,000. Virtu Financial LLC acquired a new stake in Avangrid in the 3rd quarter valued at $464,000. Finally, Geode Capital Management LLC raised its stake in Avangrid by 1.6% during the third quarter. Geode Capital Management LLC now owns 1,072,808 shares of the utilities provider’s stock worth $38,407,000 after acquiring an additional 16,960 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.