StockNews.com Initiates Coverage on Avangrid (NYSE:AGR)

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

Avangrid Trading Down 0.4 %

Shares of AGR opened at $36.08 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.44 and a current ratio of 0.51. The company has a market cap of $13.96 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 2.56 and a beta of 0.55. The stock has a fifty day moving average price of $35.78 and a two-hundred day moving average price of $35.77. Avangrid has a 52-week low of $29.71 and a 52-week high of $37.70.

Avangrid (NYSE:AGR) last released its earnings results on Tuesday, October 22nd. The utilities provider reported $0.55 EPS for the quarter, beating the consensus estimate of $0.33 by $0.22. The company had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.04 billion. Avangrid had a return on equity of 5.37% and a net margin of 12.89%. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period last year, the firm earned $0.27 EPS. Analysts predict that Avangrid will post 2.34 EPS for the current fiscal year.

Avangrid Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date of this dividend is Monday, December 2nd. Avangrid’s dividend payout ratio (DPR) is currently 60.48%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its stake in Avangrid by 1.6% in the third quarter. Geode Capital Management LLC now owns 1,072,808 shares of the utilities provider’s stock valued at $38,407,000 after buying an additional 16,960 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Avangrid by 28.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 884,742 shares of the utilities provider’s stock worth $31,665,000 after acquiring an additional 197,841 shares during the last quarter. Empower Advisory Group LLC grew its holdings in Avangrid by 0.5% during the third quarter. Empower Advisory Group LLC now owns 363,399 shares of the utilities provider’s stock valued at $13,006,000 after purchasing an additional 1,983 shares during the period. Millennium Management LLC increased its stake in Avangrid by 34.7% in the second quarter. Millennium Management LLC now owns 308,134 shares of the utilities provider’s stock valued at $10,948,000 after purchasing an additional 79,463 shares in the last quarter. Finally, Gabelli Funds LLC raised its holdings in Avangrid by 26.1% in the second quarter. Gabelli Funds LLC now owns 297,474 shares of the utilities provider’s stock worth $10,569,000 after purchasing an additional 61,574 shares during the period. 13.12% of the stock is currently owned by institutional investors.

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.