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

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

Avangrid Price Performance

Shares of AGR stock opened at $35.54 on Friday. Avangrid has a 52 week low of $29.71 and a 52 week high of $37.70. The stock has a market capitalization of $13.75 billion, a PE ratio of 12.21, a PEG ratio of 2.53 and a beta of 0.56. 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 stock’s fifty day moving average is $35.79 and its 200-day moving average is $35.70.

Avangrid (NYSE:AGR) last posted its quarterly earnings data on Tuesday, October 22nd. The utilities provider reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.22. Avangrid had a net margin of 12.89% and a return on equity of 5.37%. The firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.04 billion. During the same quarter last year, the company posted $0.27 EPS. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. Equities research analysts expect that Avangrid will post 2.34 EPS for the current fiscal year.

Avangrid Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.76 annualized dividend and a dividend yield of 4.95%. Avangrid’s dividend payout ratio (DPR) is currently 60.48%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AGR. Geode Capital Management LLC raised its stake in Avangrid by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,072,808 shares of the utilities provider’s stock worth $38,407,000 after buying an additional 16,960 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Avangrid by 28.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 884,742 shares of the utilities provider’s stock worth $31,665,000 after purchasing an additional 197,841 shares during the period. Empower Advisory Group LLC lifted its holdings in shares of Avangrid by 0.5% during the 3rd 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 in the last quarter. Millennium Management LLC lifted its holdings in shares of Avangrid by 34.7% during the 2nd 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 grew its position in shares of Avangrid by 26.1% in the 2nd quarter. Gabelli Funds LLC now owns 297,474 shares of the utilities provider’s stock valued at $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.