Avangrid (NYSE:AGR) Research Coverage Started at StockNews.com

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

Avangrid Price Performance

NYSE:AGR opened at $35.78 on Thursday. The business’s 50-day moving average price is $35.73 and its 200 day moving average price is $35.79. The firm has a market cap of $13.84 billion, a P/E ratio of 15.49, a PEG 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. The company has a quick ratio of 0.44, a current ratio of 0.52 and a debt-to-equity ratio of 0.49.

Avangrid (NYSE:AGR) last released its earnings results on Tuesday, July 23rd. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.22. The firm had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.72 billion. Avangrid had a return on equity of 4.87% and a net margin of 11.35%. Avangrid’s revenue was up 21.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.21 earnings per share. As a group, sell-side analysts predict that Avangrid will post 2.24 earnings per share for the current fiscal year.

Avangrid Announces Dividend

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

Hedge Funds Weigh In On Avangrid

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Clean Energy Transition LLP acquired a new position in shares of Avangrid in the 4th quarter valued at $75,620,000. Norges Bank acquired a new position in shares of Avangrid in the 4th quarter valued at $30,303,000. Charles Schwab Investment Management Inc. boosted its position in shares of Avangrid by 8.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 608,977 shares of the utilities provider’s stock valued at $19,737,000 after purchasing an additional 48,174 shares during the period. Hsbc Holdings PLC boosted its position in shares of Avangrid by 65.1% in the 4th quarter. Hsbc Holdings PLC now owns 373,093 shares of the utilities provider’s stock valued at $12,088,000 after purchasing an additional 147,108 shares during the period. Finally, Gamco Investors INC. ET AL boosted its position in shares of Avangrid by 2.1% in the 1st quarter. Gamco Investors INC. ET AL now owns 359,807 shares of the utilities provider’s stock valued at $13,111,000 after purchasing an additional 7,370 shares during the period. Institutional investors and hedge funds own 13.12% of the company’s stock.

Avangrid Company Profile

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.