Avangrid (NYSE:AGR) Earns Hold Rating from Analysts at StockNews.com

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

Avangrid Price Performance

Avangrid stock opened at $36.02 on Tuesday. The company has a market cap of $13.94 billion, a P/E ratio of 12.38, a price-to-earnings-growth ratio of 2.54 and a beta of 0.56. Avangrid has a one year low of $29.71 and a one year high of $37.70. The business has a fifty day moving average of $35.78 and a two-hundred day moving average of $35.68. 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 (NYSE:AGR) last announced its quarterly earnings data on Tuesday, October 22nd. The utilities provider reported $0.55 EPS for the quarter, beating the consensus estimate of $0.33 by $0.22. Avangrid had a net margin of 12.89% and a return on equity of 5.37%. The firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.04 billion. During the same quarter last year, the business earned $0.27 earnings per share. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, analysts predict that Avangrid will post 2.34 earnings per share for the current fiscal year.

Avangrid Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 4.89%. The ex-dividend date of this dividend is Monday, December 2nd. Avangrid’s payout ratio is currently 60.48%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AGR. Geode Capital Management LLC lifted its stake in Avangrid by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,072,808 shares of the utilities provider’s stock valued at $38,407,000 after buying an additional 16,960 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Avangrid by 28.8% in 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 acquiring an additional 197,841 shares in the last quarter. Empower Advisory Group LLC boosted its stake in shares of Avangrid by 0.5% during the third quarter. Empower Advisory Group LLC now owns 363,399 shares of the utilities provider’s stock valued at $13,006,000 after acquiring an additional 1,983 shares during the last quarter. Millennium Management LLC increased its position in Avangrid by 34.7% during the 2nd quarter. Millennium Management LLC now owns 308,134 shares of the utilities provider’s stock worth $10,948,000 after purchasing an additional 79,463 shares in the last quarter. Finally, Gabelli Funds LLC raised its stake in Avangrid by 26.1% in the 2nd quarter. Gabelli Funds LLC now owns 297,474 shares of the utilities provider’s stock valued at $10,569,000 after purchasing an additional 61,574 shares during the last quarter. 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.