Avangrid (NYSE:AGR) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of Avangrid (NYSE:AGR) in a research report issued to clients and investors on Sunday. The brokerage set a “hold” rating on the utilities provider’s stock.

Avangrid Stock Performance

Shares of AGR stock opened at $35.73 on Friday. Avangrid has a 1 year low of $28.75 and a 1 year high of $37.70. The firm has a market capitalization of $13.82 billion, a PE ratio of 15.47, a price-to-earnings-growth ratio of 2.66 and a beta of 0.55. The stock has a fifty day moving average of $35.79 and a two-hundred day moving average of $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.

Avangrid (NYSE:AGR) last announced 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 firm had revenue of $1.92 billion for 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%. The firm’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.21 earnings per share. As a group, research analysts expect that Avangrid will post 2.24 EPS for the current year.

Institutional Trading of Avangrid

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Headlands Technologies LLC bought a new position in shares of Avangrid in the first quarter valued at $26,000. Bell Investment Advisors Inc lifted its holdings 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 valued at $31,000 after purchasing an additional 536 shares during the last quarter. Central Pacific Bank Trust Division acquired a new position in shares of Avangrid in the 1st quarter valued at $36,000. Toronto Dominion Bank purchased a new position in Avangrid in the 1st quarter worth about $41,000. Finally, Quent Capital LLC increased 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 in the last quarter. 13.12% of the stock is owned by institutional investors and hedge funds.

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.