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

StockNews.com assumed coverage on shares of Avangrid (NYSE:AGR) in a report issued on Tuesday morning. The firm issued a hold rating on the utilities provider’s stock.

Avangrid Price Performance

Shares of AGR stock opened at $35.52 on Tuesday. The stock’s 50-day simple moving average is $35.82 and its 200-day simple moving average is $34.40. The firm has a market capitalization of $13.74 billion, a price-to-earnings ratio of 15.38, a PEG ratio of 2.65 and a beta of 0.55. Avangrid has a fifty-two week low of $27.46 and a fifty-two week high of $39.13. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.50 and a current ratio of 0.58.

Avangrid (NYSE:AGR) last issued its earnings results on Wednesday, April 24th. The utilities provider reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.54 billion. Avangrid had a return on equity of 4.35% and a net margin of 10.80%. Avangrid’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.64 earnings per share. As a group, equities analysts forecast that Avangrid will post 2.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of AGR. Royal London Asset Management Ltd. raised its stake in shares of Avangrid by 3.5% during the 3rd quarter. Royal London Asset Management Ltd. now owns 27,090 shares of the utilities provider’s stock worth $817,000 after buying an additional 915 shares during the period. Integrated Advisors Network LLC acquired a new position in Avangrid in the 3rd quarter valued at $275,000. Citigroup Inc. raised its stake in Avangrid by 3.5% in the 3rd quarter. Citigroup Inc. now owns 9,791 shares of the utilities provider’s stock valued at $295,000 after purchasing an additional 334 shares during the last quarter. Polianta Ltd acquired a new position in Avangrid in the 4th quarter valued at $888,000. Finally, BKM Wealth Management LLC acquired a new position in Avangrid in the 4th quarter valued at $41,000. 13.12% of the stock is owned by institutional investors and hedge funds.

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.