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

Equities researchers at StockNews.com initiated coverage on shares of Avangrid (NYSE:AGR) in a research report issued to clients and investors on Wednesday. The firm set a “hold” rating on the utilities provider’s stock.

Avangrid Stock Performance

Avangrid stock opened at $36.02 on Wednesday. Avangrid has a 12 month low of $29.71 and a 12 month high of $37.70. The company has a market capitalization of $13.94 billion, a price-to-earnings ratio of 12.38, a price-to-earnings-growth ratio of 2.54 and a beta of 0.56. The business’s fifty day simple moving average is $35.82 and its two-hundred day simple moving average is $35.71. 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 (NYSE:AGR) last announced its quarterly earnings results on Tuesday, October 22nd. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.22. Avangrid had a net margin of 12.89% and a return on equity of 5.37%. The company had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.04 billion. During the same quarter in the previous year, the business posted $0.27 EPS. Avangrid’s revenue was up 5.5% compared to the same quarter last year. As a group, equities analysts predict that Avangrid will post 2.34 earnings per share for the current fiscal year.

Institutional Trading of Avangrid

A number of institutional investors and hedge funds have recently modified their holdings of AGR. Bank of New York Mellon Corp lifted its stake in Avangrid by 26.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 256,980 shares of the utilities provider’s stock valued at $9,130,000 after acquiring an additional 54,469 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Avangrid by 743,566.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,310 shares of the utilities provider’s stock valued at $793,000 after purchasing an additional 22,307 shares during the period. Commonwealth Equity Services LLC boosted its holdings in Avangrid by 5.7% in the second quarter. Commonwealth Equity Services LLC now owns 47,194 shares of the utilities provider’s stock worth $1,677,000 after purchasing an additional 2,528 shares during the last quarter. Van ECK Associates Corp grew its position in Avangrid by 2.8% in the 2nd quarter. Van ECK Associates Corp now owns 18,305 shares of the utilities provider’s stock worth $650,000 after purchasing an additional 499 shares during the period. Finally, CIBC Asset Management Inc purchased a new stake in Avangrid during the 2nd quarter valued at $394,000. Institutional investors 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.