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

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

Avangrid Stock Up 0.0 %

NYSE AGR opened at $35.76 on Friday. The company has a current ratio of 0.52, a quick ratio of 0.44 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $13.84 billion, a price-to-earnings ratio of 15.48, a PEG ratio of 2.67 and a beta of 0.55. Avangrid has a 1-year low of $27.46 and a 1-year high of $37.70. The stock’s 50 day moving average is $35.76 and its two-hundred day moving average is $35.87.

Avangrid (NYSE:AGR) last announced its earnings results on Tuesday, July 23rd. The utilities provider reported $0.49 EPS for the quarter, topping the consensus estimate of $0.27 by $0.22. Avangrid had a return on equity of 4.87% and a net margin of 11.35%. The business had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the previous year, the business earned $0.21 EPS. Avangrid’s revenue was up 21.2% compared to the same quarter last year. Equities analysts forecast that Avangrid will post 2.24 earnings per share for the current fiscal year.

Avangrid Announces Dividend

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 issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 4.92%. The ex-dividend date is Friday, August 30th. Avangrid’s dividend payout ratio is currently 76.19%.

Hedge Funds Weigh In On Avangrid

A number of large investors have recently modified their holdings of AGR. Headlands Technologies LLC acquired a new stake in shares of Avangrid during the 1st quarter worth approximately $26,000. Bell Investment Advisors Inc grew its holdings in Avangrid by 163.9% during the 1st quarter. Bell Investment Advisors Inc now owns 863 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 536 shares during the period. Central Pacific Bank Trust Division bought a new stake in shares of Avangrid during the 1st quarter valued at $36,000. Toronto Dominion Bank acquired a new stake in shares of Avangrid during the first quarter worth $41,000. Finally, Quent Capital LLC increased its holdings in 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 last quarter. 13.12% of the stock is currently owned by institutional investors and hedge funds.

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.