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

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

Avangrid Trading Down 0.1 %

Avangrid stock opened at $35.72 on Friday. Avangrid has a 52 week low of $28.75 and a 52 week high of $37.70. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.44 and a current ratio of 0.52. The firm has a market capitalization of $13.82 billion, a price-to-earnings ratio of 15.47, a P/E/G ratio of 2.67 and a beta of 0.55. The company has a 50 day moving average price of $35.79 and a 200 day moving average price of $35.87.

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

Avangrid Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date is Monday, December 2nd. Avangrid’s payout ratio is presently 76.19%.

Hedge Funds Weigh In On Avangrid

A number of hedge funds have recently modified their holdings of the stock. CWM LLC raised its position in Avangrid by 28.3% during the third quarter. CWM LLC now owns 5,820 shares of the utilities provider’s stock valued at $208,000 after acquiring an additional 1,283 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Avangrid during the 3rd quarter worth $1,216,000. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Avangrid by 41.5% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 111,088 shares of the utilities provider’s stock valued at $3,947,000 after purchasing an additional 32,570 shares during the last quarter. Water Island Capital LLC bought a new stake in Avangrid in the second quarter worth $1,204,000. Finally, Creative Planning increased its position in Avangrid by 6.1% during the second quarter. Creative Planning now owns 32,368 shares of the utilities provider’s stock worth $1,150,000 after buying an additional 1,862 shares during the last quarter. 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.