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

Investment analysts at StockNews.com started coverage on shares of Avangrid (NYSE:AGR) in a note issued to investors on Thursday. The brokerage set a “hold” rating on the utilities provider’s stock.

Avangrid Trading Down 0.1 %

AGR opened at $35.76 on Thursday. Avangrid has a 1-year low of $27.46 and a 1-year high of $37.70. 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 cap of $13.84 billion, a P/E ratio of 15.48, a price-to-earnings-growth ratio of 2.66 and a beta of 0.55. The company has a fifty day moving average price of $35.73 and a two-hundred day moving average price of $35.82.

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

Institutional Investors Weigh In On Avangrid

Institutional investors have recently added to or reduced their stakes in the company. Headlands Technologies LLC purchased a new position in Avangrid in the first quarter valued at about $26,000. Robeco Institutional Asset Management B.V. boosted its stake in 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 valued at $31,000 after acquiring an additional 92,698 shares during the last quarter. Bell Investment Advisors Inc boosted its stake in 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 acquiring an additional 536 shares during the last quarter. Central Pacific Bank Trust Division purchased a new position in Avangrid in the first quarter valued at about $36,000. Finally, Toronto Dominion Bank purchased a new position in Avangrid in the first quarter valued at about $41,000. 13.12% of the stock is owned by institutional investors.

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.