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

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

Avangrid Stock Performance

Shares of NYSE AGR opened at $36.02 on Thursday. 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 stock has a 50 day moving average price of $35.86 and a 200 day moving average price of $35.74. The stock has a market capitalization of $13.94 billion, a PE ratio of 12.38, a price-to-earnings-growth ratio of 2.54 and a beta of 0.56. Avangrid has a 52 week low of $29.71 and a 52 week high of $37.70.

Avangrid (NYSE:AGR) last released its earnings results on Tuesday, October 22nd. The utilities provider reported $0.55 earnings per share for the quarter, beating 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 business had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.04 billion. During the same period last year, the business earned $0.27 earnings per share. The firm’s revenue was up 5.5% on a year-over-year basis. Analysts predict that Avangrid will post 2.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Avangrid

Several hedge funds have recently bought and sold shares of AGR. Brooklyn Investment Group bought a new stake in Avangrid in the third quarter valued at approximately $25,000. Blue Trust Inc. increased its holdings in shares of Avangrid by 244.9% during the 3rd quarter. Blue Trust Inc. now owns 807 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 573 shares during the last quarter. Eastern Bank acquired a new stake in Avangrid during the 3rd quarter valued at $30,000. Quarry LP acquired a new stake in Avangrid during the 3rd quarter valued at $47,000. Finally, Venturi Wealth Management LLC boosted its position in Avangrid by 1,939.7% during the third quarter. Venturi Wealth Management LLC now owns 2,978 shares of the utilities provider’s stock worth $107,000 after purchasing an additional 2,832 shares during the period. 13.12% of the stock is currently owned by institutional investors and hedge funds.

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.