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

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

Avangrid Price Performance

Shares of NYSE AGR opened at $36.02 on Thursday. Avangrid has a 1 year low of $29.71 and a 1 year high of $37.70. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.51 and a quick ratio of 0.44. The firm has a market cap 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. The company has a 50 day simple moving average of $35.87 and a 200 day simple moving average of $35.75.

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

Hedge Funds Weigh In On Avangrid

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its holdings in Avangrid by 28.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 884,742 shares of the utilities provider’s stock worth $31,665,000 after purchasing an additional 197,841 shares during the last quarter. Marshall Wace LLP raised its stake in Avangrid by 973.5% during the second quarter. Marshall Wace LLP now owns 150,602 shares of the utilities provider’s stock worth $5,351,000 after buying an additional 136,573 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Avangrid by 466.5% in the second quarter. Renaissance Technologies LLC now owns 135,400 shares of the utilities provider’s stock valued at $4,811,000 after buying an additional 111,500 shares during the period. BNP Paribas Financial Markets boosted its position in Avangrid by 353.0% during the third quarter. BNP Paribas Financial Markets now owns 110,163 shares of the utilities provider’s stock valued at $3,943,000 after acquiring an additional 85,847 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in Avangrid by 34.7% during the 2nd quarter. Millennium Management LLC now owns 308,134 shares of the utilities provider’s stock worth $10,948,000 after acquiring an additional 79,463 shares during the period. 13.12% of the stock is 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.