StockNews.com Begins Coverage on Avangrid (NYSE:AGR)

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

Avangrid Stock Up 0.0 %

Avangrid stock opened at $35.91 on Friday. The company has a market capitalization of $13.89 billion, a PE ratio of 15.55, a PEG ratio of 2.69 and a beta of 0.55. Avangrid has a 12-month low of $27.46 and a 12-month high of $37.70. The firm’s fifty day moving average is $35.52 and its 200 day moving average is $35.13. 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 (NYSE:AGR) last announced its quarterly earnings data on Tuesday, July 23rd. The utilities provider reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.22. The firm had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.72 billion. Avangrid had a net margin of 11.35% and a return on equity of 4.87%. The business’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.21 earnings per share. As a group, sell-side analysts predict that Avangrid will post 2.23 EPS for the current fiscal year.

Avangrid Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 2nd will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 4.90%. The ex-dividend date of this dividend is Friday, August 30th. Avangrid’s payout ratio is currently 76.19%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in AGR. Quent Capital LLC increased its holdings in Avangrid by 31.0% during the 1st quarter. Quent Capital LLC now owns 1,486 shares of the utilities provider’s stock worth $54,000 after purchasing an additional 352 shares in the last quarter. Signaturefd LLC grew its holdings in Avangrid by 2.6% during the second quarter. Signaturefd LLC now owns 16,011 shares of the utilities provider’s stock worth $569,000 after buying an additional 399 shares in the last quarter. Royal London Asset Management Ltd. raised its position in Avangrid by 1.7% in the 2nd quarter. Royal London Asset Management Ltd. now owns 28,005 shares of the utilities provider’s stock valued at $995,000 after buying an additional 471 shares during the last quarter. Van ECK Associates Corp lifted its stake in Avangrid by 2.8% during the 2nd quarter. Van ECK Associates Corp now owns 18,305 shares of the utilities provider’s stock valued at $650,000 after acquiring an additional 499 shares in the last quarter. Finally, Bell Investment Advisors Inc boosted its holdings in Avangrid by 163.9% during the 1st quarter. Bell Investment Advisors Inc now owns 863 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 536 shares during the last quarter. 13.12% of the stock is owned by institutional investors.

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.