Avangrid (NYSE:AGR) Receives New Coverage from Analysts at StockNews.com

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

Avangrid Price Performance

AGR opened at $35.76 on Thursday. The company’s 50-day simple moving average is $35.73 and its two-hundred day simple moving average is $35.87. 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 stock has a market capitalization of $13.84 billion, a P/E ratio of 15.48, a P/E/G ratio of 2.66 and a beta of 0.55. Avangrid has a 52-week low of $27.46 and a 52-week high of $37.70.

Avangrid (NYSE:AGR) last announced its earnings results on Tuesday, July 23rd. The utilities provider reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. The business had revenue of $1.92 billion during 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 company’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.21 EPS. As a group, analysts predict that Avangrid will post 2.24 EPS for the current year.

Avangrid Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 2nd will be given a dividend of $0.44 per share. The ex-dividend date is Friday, August 30th. This represents a $1.76 annualized dividend and a yield of 4.92%. Avangrid’s dividend payout ratio (DPR) is presently 76.19%.

Institutional Investors Weigh In On Avangrid

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Headlands Technologies LLC bought a new position in Avangrid in the 1st quarter worth $26,000. Bell Investment Advisors Inc grew its position 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 purchasing an additional 536 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in Avangrid during the 1st quarter valued at approximately $36,000. Toronto Dominion Bank purchased a new position in Avangrid in the 1st quarter worth approximately $41,000. Finally, Quent Capital LLC boosted its stake in Avangrid by 31.0% in 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 during the period. 13.12% of the stock is owned by hedge funds and other 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.