Avangrid (NYSE:AGR) Earns Hold Rating from Analysts at StockNews.com

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

Avangrid Stock Up 0.1 %

AGR opened at $35.77 on Friday. The firm has a market capitalization of $13.84 billion, a P/E ratio of 15.48, a price-to-earnings-growth ratio of 2.66 and a beta of 0.55. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.52 and a quick ratio of 0.44. The company has a fifty day moving average price of $35.79 and a 200-day moving average price of $35.86. Avangrid has a one year low of $28.75 and a one year high of $37.70.

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

Avangrid Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 4.92%. The ex-dividend date of this dividend is Monday, December 2nd. Avangrid’s dividend payout ratio (DPR) is presently 76.19%.

Institutional Investors Weigh In On Avangrid

Several institutional investors and hedge funds have recently bought and sold shares of AGR. Natixis increased its position in shares of Avangrid by 3,122.3% during the first quarter. Natixis now owns 166,432 shares of the utilities provider’s stock valued at $6,065,000 after buying an additional 161,267 shares during the period. Versor Investments LP bought a new position in shares of Avangrid in the 2nd quarter worth approximately $5,468,000. Marshall Wace LLP lifted its stake in shares of Avangrid by 973.5% in the 2nd quarter. Marshall Wace LLP now owns 150,602 shares of the utilities provider’s stock valued at $5,351,000 after purchasing an additional 136,573 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of Avangrid during the first quarter valued at approximately $4,504,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Avangrid in the first quarter worth $4,396,000. 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.