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

StockNews.com initiated coverage on shares of Avangrid (NYSE:AGR) in a report released on Friday morning. The firm issued a hold rating on the utilities provider’s stock.

Avangrid Stock Performance

Shares of Avangrid stock opened at $36.02 on Friday. The company has a 50-day moving average of $35.90 and a two-hundred day moving average of $35.77. Avangrid has a 12-month low of $29.71 and a 12-month high of $37.70. The company has a current ratio of 0.51, a quick ratio of 0.44 and a debt-to-equity ratio of 0.52. The stock has a market cap of $13.94 billion, a PE ratio of 12.38, a price-to-earnings-growth ratio of 2.54 and a beta of 0.56.

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

Institutional Investors Weigh In On Avangrid

A number of large investors have recently added to or reduced their stakes in the business. Brooklyn Investment Group acquired a new position in Avangrid during the third quarter worth about $25,000. Blue Trust Inc. increased its stake in shares of Avangrid by 244.9% during the 3rd quarter. Blue Trust Inc. now owns 807 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 573 shares in the last quarter. Eastern Bank acquired a new position in shares of Avangrid during the 3rd quarter worth approximately $30,000. Quarry LP purchased a new stake in Avangrid in the 3rd quarter valued at approximately $47,000. Finally, Venturi Wealth Management LLC grew its holdings in Avangrid by 1,939.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,978 shares of the utilities provider’s stock valued at $107,000 after buying an additional 2,832 shares during the last quarter. 13.12% of the stock is 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.