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

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

Avangrid Price Performance

Shares of NYSE:AGR opened at $36.08 on Friday. The firm has a market cap of $13.96 billion, a PE ratio of 12.40, a price-to-earnings-growth ratio of 2.58 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. The firm’s fifty day moving average is $35.78 and its 200-day moving average is $35.76.

Avangrid (NYSE:AGR) last released its quarterly earnings results on Tuesday, October 22nd. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.22. The firm had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.04 billion. Avangrid had a net margin of 12.89% and a return on equity of 5.37%. During the same quarter last year, the business earned $0.27 EPS. The company’s revenue was up 5.5% compared to the same quarter last year. Sell-side analysts predict that Avangrid will post 2.34 earnings per share for the current year.

Avangrid Dividend Announcement

The business 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 $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 4.88%. The ex-dividend date of this dividend is Monday, December 2nd. Avangrid’s dividend payout ratio (DPR) is currently 60.48%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC raised its holdings in Avangrid by 1.8% during the third quarter. Signaturefd LLC now owns 16,301 shares of the utilities provider’s stock worth $583,000 after buying an additional 290 shares during the last quarter. Royal London Asset Management Ltd. increased its holdings in Avangrid by 1.7% during the 2nd quarter. Royal London Asset Management Ltd. now owns 28,005 shares of the utilities provider’s stock worth $995,000 after purchasing an additional 471 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of Avangrid by 4.2% in the third quarter. CIBC Asset Management Inc now owns 11,569 shares of the utilities provider’s stock worth $414,000 after purchasing an additional 471 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Avangrid by 2.8% in the second quarter. Van ECK Associates Corp now owns 18,305 shares of the utilities provider’s stock worth $650,000 after purchasing an additional 499 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Avangrid by 5.7% in the second quarter. American Century Companies Inc. now owns 10,303 shares of the utilities provider’s stock valued at $366,000 after purchasing an additional 560 shares in the last quarter. 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.