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

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

Avangrid Trading Up 0.6 %

NYSE:AGR opened at $35.90 on Wednesday. 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 firm has a market cap of $13.89 billion, a price-to-earnings ratio of 12.34, a price-to-earnings-growth ratio of 2.53 and a beta of 0.55. Avangrid has a 52 week low of $29.33 and a 52 week high of $37.70. The firm has a 50-day moving average price of $35.72 and a two-hundred day moving average price of $35.82.

Avangrid (NYSE:AGR) last posted its quarterly earnings data on Tuesday, October 22nd. The utilities provider reported $0.55 EPS 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 firm had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.04 billion. During the same quarter last year, the business posted $0.27 EPS. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, equities analysts expect that Avangrid will post 2.34 earnings per share for the current fiscal year.

Avangrid Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 4.90%. The ex-dividend date of this dividend is Monday, December 2nd. Avangrid’s dividend payout ratio (DPR) is presently 60.48%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of AGR. QRG Capital Management Inc. boosted its holdings in Avangrid by 225.0% in the 2nd 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. 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 during the period. Susquehanna Fundamental Investments LLC bought a new position in Avangrid in the 1st quarter valued at $4,396,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in Avangrid in the 1st quarter valued at $4,504,000. Finally, Creative Planning boosted its holdings in Avangrid by 17.4% in the 3rd quarter. Creative Planning now owns 37,986 shares of the utilities provider’s stock valued at $1,360,000 after purchasing an additional 5,618 shares during the period. 13.12% of the stock is owned by 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.