Avangrid (NYSE:AGR) Now Covered by StockNews.com

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

Avangrid Price Performance

Shares of NYSE:AGR opened at $35.84 on Thursday. Avangrid has a 52-week low of $29.71 and a 52-week high of $37.70. The firm has a market capitalization of $13.87 billion, a P/E ratio of 12.32, a P/E/G ratio of 2.55 and a beta of 0.55. The stock has a 50 day moving average price of $35.73 and a 200-day moving average price of $35.79. 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 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 return on equity of 5.37% and a net margin of 12.89%. The business’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.27 EPS. As a group, equities research analysts anticipate 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 the business. BNP Paribas Financial Markets boosted its stake in Avangrid by 353.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 110,163 shares of the utilities provider’s stock valued at $3,943,000 after purchasing an additional 85,847 shares during the last quarter. Brooklyn Investment Group purchased a new stake in Avangrid during the 3rd quarter valued at $25,000. FMR LLC boosted its stake in Avangrid by 14.9% during the 3rd quarter. FMR LLC now owns 14,456 shares of the utilities provider’s stock valued at $517,000 after purchasing an additional 1,875 shares during the last quarter. Cerity Partners LLC boosted its stake in shares of Avangrid by 92.3% in the 3rd quarter. Cerity Partners LLC now owns 16,390 shares of the utilities provider’s stock worth $587,000 after buying an additional 7,866 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Avangrid by 28.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 884,742 shares of the utilities provider’s stock worth $31,665,000 after buying an additional 197,841 shares during the last quarter. 13.12% of the stock is currently owned by hedge funds and other institutional investors.

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.