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

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

Avangrid Stock Performance

Shares of AGR opened at $35.76 on Thursday. The company has a quick ratio of 0.44, a current ratio of 0.52 and a debt-to-equity ratio of 0.49. Avangrid has a 52-week low of $27.46 and a 52-week high of $37.70. The company has a 50-day simple moving average of $35.73 and a 200-day simple moving average of $35.85. The company has a market capitalization of $13.84 billion, a PE ratio of 15.48, a P/E/G ratio of 2.66 and a beta of 0.55.

Avangrid (NYSE:AGR) last issued its earnings results on Tuesday, July 23rd. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. Avangrid had a net margin of 11.35% and a return on equity of 4.87%. The company had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same period last year, the company posted $0.21 earnings per share. The firm’s quarterly revenue was up 21.2% compared to the same quarter last year. Equities research analysts predict that Avangrid will post 2.24 earnings per share for the current fiscal year.

Avangrid Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd will be given a dividend of $0.44 per share. The ex-dividend date is Friday, August 30th. This represents a $1.76 dividend on an annualized basis and a yield of 4.92%. Avangrid’s payout ratio is 76.19%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AGR. Headlands Technologies LLC acquired a new stake in Avangrid in the 1st quarter valued at about $26,000. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Avangrid by 2,285.5% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 96,754 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 92,698 shares in the last quarter. Bell Investment Advisors Inc grew its position in shares of Avangrid by 163.9% in the first quarter. Bell Investment Advisors Inc now owns 863 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 536 shares during the last quarter. Central Pacific Bank Trust Division purchased a new position in shares of Avangrid during the 1st quarter worth approximately $36,000. Finally, Toronto Dominion Bank acquired a new position in shares of Avangrid during the 1st quarter worth approximately $41,000. Hedge funds and other institutional investors own 13.12% of the company’s stock.

About Avangrid

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.