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

Research analysts at StockNews.com initiated 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 Stock Up 0.6 %

AGR stock opened at $35.97 on Thursday. The firm’s fifty day simple moving average is $35.74 and its 200-day simple moving average is $35.79. The company has a market capitalization of $13.92 billion, a P/E ratio of 12.36, a price-to-earnings-growth ratio of 2.55 and a beta of 0.55. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.51 and a quick ratio of 0.44. Avangrid has a 12 month low of $29.71 and a 12 month high of $37.70.

Avangrid (NYSE:AGR) last posted its earnings results on Tuesday, October 22nd. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.22. Avangrid had a net margin of 12.89% and a return on equity of 5.37%. The firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.04 billion. During the same period in the previous year, the business posted $0.27 EPS. The business’s revenue was up 5.5% compared to the same quarter last year. As a group, equities research analysts forecast that Avangrid will post 2.34 earnings per share for the current year.

Hedge Funds Weigh In On Avangrid

Large investors have recently added to or reduced their stakes in the stock. QRG Capital Management Inc. grew its holdings in shares of Avangrid by 225.0% in the second quarter. QRG Capital Management Inc. now owns 33,050 shares of the utilities provider’s stock valued at $1,174,000 after purchasing an additional 22,880 shares during the period. Natixis lifted its position in shares of Avangrid by 3,122.3% during the first quarter. Natixis now owns 166,432 shares of the utilities provider’s stock worth $6,065,000 after purchasing an additional 161,267 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in Avangrid in the first quarter valued at approximately $4,504,000. Creative Planning raised its holdings in Avangrid by 17.4% in the third quarter. Creative Planning now owns 37,986 shares of the utilities provider’s stock valued at $1,360,000 after acquiring an additional 5,618 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Avangrid by 26.9% in the second 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 in the last quarter. 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.