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

Equities researchers at StockNews.com began coverage on shares of Avangrid (NYSE:AGR) in a report issued on Thursday. The brokerage set a “hold” rating on the utilities provider’s stock.

Avangrid Price Performance

Avangrid stock opened at $36.02 on Thursday. The business’s 50-day moving average price is $35.87 and its 200 day moving average price is $35.74. The company has a quick ratio of 0.44, a current ratio of 0.51 and a debt-to-equity ratio of 0.52. The firm has a market cap 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. Avangrid has a 52 week low of $29.71 and a 52 week high of $37.70.

Avangrid (NYSE:AGR) last issued its quarterly earnings data on Tuesday, October 22nd. The utilities provider reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.22. The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.04 billion. Avangrid had a net margin of 12.89% and a return on equity of 5.37%. The business’s revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the company earned $0.27 EPS. As a group, sell-side analysts anticipate that Avangrid will post 2.34 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AGR. Geode Capital Management LLC increased its stake in shares of 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 purchasing an additional 16,960 shares in the last quarter. Charles Schwab Investment Management Inc. increased 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 buying an additional 197,841 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Avangrid by 11.0% in the third quarter. JPMorgan Chase & Co. now owns 653,201 shares of the utilities provider’s stock valued at $23,378,000 after buying an additional 64,720 shares in the last quarter. Empower Advisory Group LLC raised its stake in shares of Avangrid by 0.5% during the 3rd quarter. Empower Advisory Group LLC now owns 363,399 shares of the utilities provider’s stock worth $13,006,000 after buying an additional 1,983 shares during the period. Finally, Millennium Management LLC lifted its position in shares of Avangrid by 34.7% during the 2nd quarter. Millennium Management LLC now owns 308,134 shares of the utilities provider’s stock valued at $10,948,000 after buying an additional 79,463 shares in 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.