StockNews.com Initiates Coverage on Avangrid (NYSE:AGR)

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

Avangrid Stock Performance

NYSE AGR opened at $36.02 on Friday. 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 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 PE ratio of 12.38, a P/E/G ratio of 2.54 and a beta of 0.56. The stock has a 50-day simple moving average of $35.92 and a 200 day simple moving average of $35.79.

Institutional Investors Weigh In On Avangrid

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. grew its position in Avangrid by 267.0% in the fourth quarter. Blue Trust Inc. now owns 2,962 shares of the utilities provider’s stock valued at $106,000 after purchasing an additional 2,155 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Avangrid by 11.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 653,201 shares of the utilities provider’s stock valued at $23,378,000 after acquiring an additional 64,720 shares in the last quarter. DGS Capital Management LLC increased its position in shares of Avangrid by 6.2% in the third quarter. DGS Capital Management LLC now owns 16,864 shares of the utilities provider’s stock valued at $604,000 after acquiring an additional 986 shares during the last quarter. Franklin Resources Inc. raised its holdings in Avangrid by 9.1% during the third quarter. Franklin Resources Inc. now owns 7,194 shares of the utilities provider’s stock worth $257,000 after acquiring an additional 603 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in Avangrid during the third quarter valued at approximately $330,000. 13.12% of the stock is currently owned by institutional investors and hedge funds.

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.