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

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

Separately, Janney Montgomery Scott reaffirmed a “sell” rating and set a $35.00 price target on shares of Avangrid in a report on Friday, March 8th. One investment analyst has rated the stock with a sell rating and three have issued a hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $34.67.

Avangrid Stock Performance

NYSE AGR opened at $35.29 on Monday. The company has a quick ratio of 0.50, a current ratio of 0.58 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $13.65 billion, a P/E ratio of 15.28, a P/E/G ratio of 2.67 and a beta of 0.55. Avangrid has a 12-month low of $27.46 and a 12-month high of $39.13. The firm has a 50-day moving average price of $36.05 and a two-hundred day moving average price of $34.24.

Avangrid (NYSE:AGR) last posted its quarterly earnings data on Wednesday, April 24th. The utilities provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.54 billion. Avangrid had a net margin of 10.80% and a return on equity of 4.35%. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.64 EPS. Analysts anticipate that Avangrid will post 2.22 earnings per share for the current year.

Hedge Funds Weigh In On Avangrid

A number of institutional investors have recently added to or reduced their stakes in the stock. Citigroup Inc. increased its position in Avangrid by 3.5% during the 3rd quarter. Citigroup Inc. now owns 9,791 shares of the utilities provider’s stock worth $295,000 after purchasing an additional 334 shares in the last quarter. Quent Capital LLC raised its stake in shares of Avangrid by 31.0% during the first quarter. Quent Capital LLC now owns 1,486 shares of the utilities provider’s stock valued at $54,000 after acquiring an additional 352 shares during the last quarter. First Pacific Financial raised its stake in shares of Avangrid by 3.1% during the fourth quarter. First Pacific Financial now owns 13,504 shares of the utilities provider’s stock valued at $438,000 after acquiring an additional 406 shares during the last quarter. Bell Investment Advisors Inc raised its stake in shares of Avangrid by 163.9% during the first quarter. Bell Investment Advisors Inc now owns 863 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 536 shares during the last quarter. Finally, Harrington Investments INC raised its stake in shares of Avangrid by 2.1% during the first quarter. Harrington Investments INC now owns 26,983 shares of the utilities provider’s stock valued at $983,000 after acquiring an additional 557 shares during 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.