Avangrid (NYSE:AGR) Coverage Initiated by Analysts at StockNews.com

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

Avangrid Price Performance

AGR opened at $35.50 on Thursday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.50 and a current ratio of 0.52. Avangrid has a 52-week low of $27.46 and a 52-week high of $38.71. The stock has a market capitalization of $13.74 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 2.67 and a beta of 0.55. The stock’s 50 day moving average price is $35.54 and its 200-day moving average price is $34.57.

Avangrid (NYSE:AGR) last issued its quarterly earnings results on Tuesday, July 23rd. The utilities provider reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.22. The company had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Avangrid had a return on equity of 4.87% and a net margin of 11.35%. The firm’s revenue for the quarter was up 21.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.21 earnings per share. On average, equities research analysts predict that Avangrid will post 2.22 EPS for the current year.

Avangrid Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders 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 dividend yield of 4.96%. The ex-dividend date of this dividend is Friday, August 30th. Avangrid’s payout ratio is currently 76.19%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Quent Capital LLC lifted 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 acquiring an additional 352 shares during the period. Bell Investment Advisors Inc increased its position in Avangrid by 163.9% in the first quarter. Bell Investment Advisors Inc now owns 863 shares of the utilities provider’s stock worth $31,000 after buying an additional 536 shares in the last quarter. Harrington Investments INC increased its position in Avangrid by 2.1% in the first quarter. Harrington Investments INC now owns 26,983 shares of the utilities provider’s stock worth $983,000 after buying an additional 557 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in Avangrid by 0.8% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 70,196 shares of the utilities provider’s stock worth $2,264,000 after buying an additional 577 shares in the last quarter. Finally, Lindbrook Capital LLC increased its position in Avangrid by 37.1% in the first quarter. Lindbrook Capital LLC now owns 2,150 shares of the utilities provider’s stock worth $78,000 after buying an additional 582 shares in the last quarter. 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.