Avangrid (NYSE:AGR) Receives New Coverage from Analysts at StockNews.com

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

Avangrid Stock Performance

Shares of AGR stock opened at $35.75 on Wednesday. Avangrid has a one year low of $27.46 and a one year high of $37.70. The company has a 50 day moving average price of $35.68 and a 200 day moving average price of $35.64. The firm has a market capitalization of $13.84 billion, a price-to-earnings ratio of 15.48, a price-to-earnings-growth ratio of 2.65 and a beta of 0.55. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.44 and a current ratio of 0.52.

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 business had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same period last year, the business earned $0.21 EPS. The business’s revenue was up 21.2% on a year-over-year basis. Sell-side analysts anticipate that Avangrid will post 2.24 EPS for the current year.

Avangrid Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 2nd will be given a $0.44 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.76 annualized dividend and a yield of 4.92%. Avangrid’s dividend payout ratio is presently 76.19%.

Hedge Funds Weigh In On Avangrid

Several large investors have recently bought and sold shares of the stock. ING Groep NV acquired a new position in shares of Avangrid in the fourth quarter worth about $1,027,000. Robeco Institutional Asset Management B.V. lifted its stake in shares of Avangrid by 2,285.5% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 96,754 shares of the utilities provider’s stock worth $31,000 after buying an additional 92,698 shares during the last quarter. GSA Capital Partners LLP acquired a new position in Avangrid during the 1st quarter valued at $1,598,000. QRG Capital Management Inc. raised its stake in Avangrid by 225.0% during the 2nd 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 last quarter. Finally, Natixis raised its stake in Avangrid by 3,122.3% during the 1st quarter. Natixis now owns 166,432 shares of the utilities provider’s stock valued at $6,065,000 after purchasing an additional 161,267 shares during the last quarter. Institutional investors and hedge funds own 13.12% of the company’s stock.

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.