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

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

Other equities analysts have also issued research reports about the company. Wells Fargo & Company lifted their price target on Avangrid from $34.00 to $35.00 and gave the company an equal weight rating in a research note on Friday, February 23rd. Janney Montgomery Scott restated a sell rating and set a $35.00 target price on shares of Avangrid in a report on Friday, March 8th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat.com, Avangrid currently has a consensus rating of Hold and a consensus price target of $34.75.

Avangrid Stock Performance

Shares of AGR opened at $35.32 on Friday. The stock has a 50-day moving average of $36.21 and a two-hundred day moving average of $34.03. Avangrid has a one year low of $27.46 and a one year high of $39.13. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.50 and a current ratio of 0.58. The stock has a market cap of $13.67 billion, a P/E ratio of 15.29, a P/E/G ratio of 2.66 and a beta of 0.55.

Avangrid (NYSE:AGR) last issued its quarterly earnings results on Wednesday, April 24th. The utilities provider reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. Avangrid had a return on equity of 4.35% and a net margin of 10.80%. The company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter in the previous year, the firm posted $0.64 EPS. The firm’s revenue was down 2.0% compared to the same quarter last year. As a group, research analysts predict that Avangrid will post 2.22 EPS for the current year.

Avangrid Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 4.98%. The ex-dividend date is Monday, June 3rd. Avangrid’s payout ratio is 76.19%.

Hedge Funds Weigh In On Avangrid

Several hedge funds have recently made changes to their positions in AGR. Headlands Technologies LLC acquired a new stake in shares of Avangrid during the first quarter worth about $26,000. Robeco Institutional Asset Management B.V. boosted its stake in shares of Avangrid by 2,285.5% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 96,754 shares of the utilities provider’s stock worth $31,000 after buying an additional 92,698 shares during the period. Bell Investment Advisors Inc boosted its stake in shares of Avangrid by 163.9% during the first quarter. Bell Investment Advisors Inc now owns 863 shares of the utilities provider’s stock worth $31,000 after buying an additional 536 shares during the period. Central Pacific Bank Trust Division acquired a new stake in shares of Avangrid during the first quarter worth about $36,000. Finally, BKM Wealth Management LLC acquired a new stake in Avangrid in the fourth quarter valued at about $41,000. 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.