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

Analysts at StockNews.com assumed coverage on shares of Avangrid (NYSE:AGR) in a research report issued on Tuesday. The brokerage set a “hold” rating on the utilities provider’s stock.

Avangrid Price Performance

AGR stock opened at $35.70 on Tuesday. The company has a fifty day simple moving average of $35.76 and a two-hundred day simple moving average of $35.85. Avangrid has a 52 week low of $29.14 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. The firm has a market capitalization of $13.81 billion, a P/E ratio of 15.45, a price-to-earnings-growth ratio of 2.66 and a beta of 0.55.

Avangrid (NYSE:AGR) last released its quarterly earnings results on Tuesday, October 22nd. The utilities provider reported $0.55 EPS for the quarter, topping the consensus estimate of $0.33 by $0.22. Avangrid had a return on equity of 4.87% and a net margin of 11.35%. The company had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.04 billion. During the same quarter last year, the business posted $0.27 earnings per share. The firm’s revenue was up 5.5% on a year-over-year basis. Analysts anticipate that Avangrid will post 2.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Avangrid

Several hedge funds have recently added to or reduced their stakes in AGR. Natixis grew its stake in shares of Avangrid by 3,122.3% during the first quarter. Natixis now owns 166,432 shares of the utilities provider’s stock valued at $6,065,000 after buying an additional 161,267 shares during the last quarter. Versor Investments LP purchased a new stake in shares of Avangrid during the second quarter valued at $5,468,000. Marshall Wace LLP boosted its stake in shares of Avangrid by 973.5% during the second quarter. Marshall Wace LLP now owns 150,602 shares of the utilities provider’s stock valued at $5,351,000 after purchasing an additional 136,573 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of Avangrid in the first quarter worth about $4,504,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Avangrid in the 1st quarter worth about $4,396,000. 13.12% of the stock is currently owned by institutional investors.

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.