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

StockNews.com initiated coverage on shares of Avangrid (NYSE:AGR) in a research note issued on Monday. The brokerage set a “hold” rating on the utilities provider’s stock.

Avangrid Trading Up 0.1 %

NYSE AGR opened at $35.59 on Monday. The stock has a market cap of $13.77 billion, a P/E ratio of 12.23, a PEG ratio of 2.54 and a beta of 0.56. The company’s fifty day simple moving average is $35.78 and its 200-day simple moving average is $35.68. The company has a current ratio of 0.51, a quick ratio of 0.44 and a debt-to-equity ratio of 0.52. 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 data on Tuesday, October 22nd. The utilities provider reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.22. The firm had revenue of $2.08 billion for 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%. The firm’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.27 EPS. Equities research analysts predict that Avangrid will post 2.34 EPS for the current fiscal year.

Institutional Trading of Avangrid

Several institutional investors have recently added to or reduced their stakes in AGR. Charles Schwab Investment Management Inc. increased its stake in Avangrid by 28.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 884,742 shares of the utilities provider’s stock valued at $31,665,000 after purchasing an additional 197,841 shares during the last quarter. Versor Investments LP acquired a new position in shares of Avangrid in the 2nd quarter valued at about $5,468,000. Marshall Wace LLP grew its position in shares of Avangrid by 973.5% during the 2nd quarter. Marshall Wace LLP now owns 150,602 shares of the utilities provider’s stock valued at $5,351,000 after buying an additional 136,573 shares during the last quarter. Renaissance Technologies LLC raised its stake in Avangrid by 466.5% during the second quarter. Renaissance Technologies LLC now owns 135,400 shares of the utilities provider’s stock worth $4,811,000 after acquiring an additional 111,500 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in Avangrid by 353.0% in the third quarter. BNP Paribas Financial Markets now owns 110,163 shares of the utilities provider’s stock worth $3,943,000 after acquiring an additional 85,847 shares during 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.