Avangrid (NYSE:AGR) Research Coverage Started at StockNews.com

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

Avangrid Trading Up 0.1 %

NYSE:AGR opened at $35.71 on Friday. The firm has a market capitalization of $13.82 billion, a P/E ratio of 12.27, a PEG ratio of 2.57 and a beta of 0.55. 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 one year low of $29.71 and a one year high of $37.70. The company’s 50-day simple moving average is $35.81 and its 200 day simple moving average is $35.71.

Avangrid (NYSE:AGR) last released its earnings results on Tuesday, October 22nd. The utilities provider reported $0.55 EPS for the quarter, topping the consensus estimate of $0.33 by $0.22. Avangrid had a return on equity of 5.37% and a net margin of 12.89%. The business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.04 billion. During the same period in the previous year, the company posted $0.27 earnings per share. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, analysts forecast that Avangrid will post 2.34 EPS for the current fiscal year.

Avangrid Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date of this dividend is Monday, December 2nd. Avangrid’s dividend payout ratio (DPR) is 60.48%.

Institutional Investors Weigh In On Avangrid

Several institutional investors and hedge funds have recently added to or reduced their stakes in AGR. Brooklyn Investment Group purchased a new position in Avangrid in the third quarter worth about $25,000. Blue Trust Inc. boosted its holdings in shares of Avangrid by 244.9% in the third quarter. Blue Trust Inc. now owns 807 shares of the utilities provider’s stock worth $29,000 after buying an additional 573 shares during the last quarter. Eastern Bank bought a new stake in Avangrid during the third quarter valued at approximately $30,000. Quarry LP bought a new stake in Avangrid during the third quarter valued at approximately $47,000. Finally, Venturi Wealth Management LLC increased its holdings 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 valued at $107,000 after buying an additional 2,832 shares during the last quarter. Hedge funds and other 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.