Avangrid (NYSE:AGR) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of Avangrid (NYSE:AGR) in a research note released on Friday. The brokerage issued a hold rating on the utilities provider’s stock.

Avangrid Stock Down 0.1 %

AGR opened at $35.90 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.52 and a quick ratio of 0.44. The company’s 50-day moving average is $35.50 and its 200 day moving average is $34.70. Avangrid has a fifty-two week low of $27.46 and a fifty-two week high of $37.70. The firm has a market capitalization of $13.89 billion, a P/E ratio of 15.54, a PEG ratio of 2.69 and a beta of 0.55.

Avangrid (NYSE:AGR) last released its quarterly earnings results on Tuesday, July 23rd. The utilities provider reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. Avangrid had a net margin of 11.35% and a return on equity of 4.87%. The company had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period last year, the firm earned $0.21 earnings per share. The firm’s revenue was up 21.2% on a year-over-year basis. Research analysts expect that Avangrid will post 2.23 earnings per share for the current fiscal year.

Avangrid Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 4.90%. The ex-dividend date is Friday, August 30th. Avangrid’s dividend payout ratio is 76.19%.

Institutional Trading of Avangrid

Hedge funds have recently added to or reduced their stakes in the stock. Headlands Technologies LLC bought a new stake in Avangrid in the first quarter worth about $26,000. Bell Investment Advisors Inc raised its position in shares of Avangrid by 163.9% in the first quarter. Bell Investment Advisors Inc now owns 863 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 536 shares during the period. Central Pacific Bank Trust Division bought a new stake in shares of Avangrid in the first quarter valued at approximately $36,000. Toronto Dominion Bank bought a new stake in shares of Avangrid in the first quarter valued at approximately $41,000. Finally, Quent Capital LLC raised its position in shares of Avangrid by 31.0% in the first quarter. Quent Capital LLC now owns 1,486 shares of the utilities provider’s stock valued at $54,000 after purchasing an additional 352 shares during the period. Institutional investors 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.