Avangrid (NYSE:AGR) Coverage Initiated by Analysts at StockNews.com

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

Avangrid Price Performance

AGR traded up $0.12 during trading on Thursday, hitting $35.88. The company’s stock had a trading volume of 140,286 shares, compared to its average volume of 773,340. The stock has a market capitalization of $13.88 billion, a price-to-earnings ratio of 12.32, a price-to-earnings-growth ratio of 2.55 and a beta of 0.55. Avangrid has a 12 month low of $29.71 and a 12 month high of $37.70. The company has a quick ratio of 0.44, a current ratio of 0.51 and a debt-to-equity ratio of 0.52. The firm’s 50 day moving average price is $35.74 and its two-hundred day moving average price is $35.79.

Avangrid (NYSE:AGR) last released its earnings results on Tuesday, October 22nd. The utilities provider reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.22. Avangrid had a return on equity of 5.37% and a net margin of 12.89%. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.04 billion. During the same quarter in the previous year, the company posted $0.27 earnings per share. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. Sell-side analysts forecast 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. Shareholders of record on Monday, December 2nd will be paid a $0.44 dividend. 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 dividend payout ratio is 60.48%.

Institutional Trading of Avangrid

Several institutional investors and hedge funds have recently bought and sold shares of AGR. Charles Schwab Investment Management Inc. grew its position in Avangrid by 28.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 884,742 shares of the utilities provider’s stock worth $31,665,000 after buying an additional 197,841 shares in the last quarter. Empower Advisory Group LLC raised its position in shares of Avangrid by 0.5% in the 3rd quarter. Empower Advisory Group LLC now owns 363,399 shares of the utilities provider’s stock worth $13,006,000 after acquiring an additional 1,983 shares in the last quarter. Gamco Investors INC. ET AL raised its position in shares of Avangrid by 2.1% in the 1st quarter. Gamco Investors INC. ET AL now owns 359,807 shares of the utilities provider’s stock worth $13,111,000 after acquiring an additional 7,370 shares in the last quarter. Millennium Management LLC increased its position in Avangrid by 34.7% in the 2nd quarter. Millennium Management LLC now owns 308,134 shares of the utilities provider’s stock valued at $10,948,000 after buying an additional 79,463 shares in the last quarter. Finally, Gabelli Funds LLC increased its position in Avangrid by 26.1% in the 2nd quarter. Gabelli Funds LLC now owns 297,474 shares of the utilities provider’s stock valued at $10,569,000 after buying an additional 61,574 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.