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

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

Avangrid Stock Performance

NYSE:AGR opened at $36.08 on Friday. The firm’s 50-day moving average is $35.78 and its 200-day moving average is $35.77. The company has a market cap of $13.96 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 2.56 and a beta of 0.55. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.44 and a current ratio of 0.51. Avangrid has a 52-week low of $29.71 and a 52-week high of $37.70.

Avangrid (NYSE:AGR) last issued its quarterly earnings results on Tuesday, October 22nd. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.22. Avangrid had a return on equity of 5.37% and a net margin of 12.89%. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.04 billion. During the same period in the previous year, the company posted $0.27 earnings per share. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. Equities research analysts anticipate that Avangrid will post 2.34 earnings per share for the current year.

Avangrid Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.76 dividend on an annualized basis and a yield of 4.88%. Avangrid’s dividend payout ratio is currently 60.48%.

Hedge Funds Weigh In On Avangrid

A number of hedge funds have recently made changes to their positions in the business. QRG Capital Management Inc. increased its stake in Avangrid by 225.0% in the second quarter. QRG Capital Management Inc. now owns 33,050 shares of the utilities provider’s stock valued at $1,174,000 after acquiring an additional 22,880 shares during the period. Creative Planning boosted its stake in Avangrid by 17.4% in the 3rd quarter. Creative Planning now owns 37,986 shares of the utilities provider’s stock valued at $1,360,000 after buying an additional 5,618 shares in the last quarter. Bank of New York Mellon Corp grew its position in Avangrid by 26.9% in the second quarter. Bank of New York Mellon Corp now owns 256,980 shares of the utilities provider’s stock valued at $9,130,000 after acquiring an additional 54,469 shares during the period. Blue Trust Inc. raised its stake in Avangrid by 244.9% during the third quarter. Blue Trust Inc. now owns 807 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 573 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Avangrid by 4.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 13,724 shares of the utilities provider’s stock valued at $491,000 after acquiring an additional 647 shares during the period. Institutional investors and hedge funds 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.