Avangrid (NYSE:AGR) Receives New Coverage from Analysts at StockNews.com

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

Avangrid Stock Down 0.1 %

NYSE:AGR opened at $35.50 on Thursday. The company has a quick ratio of 0.50, a current ratio of 0.58 and a debt-to-equity ratio of 0.47. Avangrid has a 12-month low of $27.46 and a 12-month high of $38.71. The stock’s fifty day simple moving average is $35.54 and its 200-day simple moving average is $34.57. The firm has a market capitalization of $13.74 billion, a P/E ratio of 15.37, a P/E/G ratio of 2.67 and a beta of 0.55.

Avangrid (NYSE:AGR) last issued its earnings results on Tuesday, July 23rd. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.22. The firm had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Avangrid had a return on equity of 4.89% and a net margin of 11.35%. The company’s revenue was up 21.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.21 earnings per share. Equities research analysts expect that Avangrid will post 2.22 earnings per share for the current year.

Institutional Trading of Avangrid

Hedge funds have recently added to or reduced their stakes in the business. Clean Energy Transition LLP acquired a new position in Avangrid in the fourth quarter valued at about $75,620,000. Mackenzie Financial Corp grew its position in shares of Avangrid by 20.5% in the 4th quarter. Mackenzie Financial Corp now owns 1,917,324 shares of the utilities provider’s stock valued at $62,140,000 after purchasing an additional 326,084 shares during the period. Norges Bank bought a new stake in Avangrid during the 4th quarter worth approximately $30,303,000. Charles Schwab Investment Management Inc. raised its holdings in Avangrid by 8.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 608,977 shares of the utilities provider’s stock worth $19,737,000 after buying an additional 48,174 shares during the period. Finally, Hsbc Holdings PLC lifted its stake in Avangrid by 65.1% in the fourth quarter. Hsbc Holdings PLC now owns 373,093 shares of the utilities provider’s stock valued at $12,088,000 after buying an additional 147,108 shares in the last quarter. Institutional investors and hedge funds 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.