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

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

Avangrid Stock Performance

AGR opened at $36.02 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.51 and a quick ratio of 0.44. The business has a fifty day simple moving average of $35.86 and a 200 day simple moving average of $35.74. Avangrid has a 1 year low of $29.71 and a 1 year high of $37.70. The company has a market capitalization of $13.94 billion, a PE ratio of 12.38, a price-to-earnings-growth ratio of 2.54 and a beta of 0.56.

Avangrid (NYSE:AGR) last released its quarterly 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. Avangrid had a net margin of 12.89% and a return on equity of 5.37%. The business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.04 billion. During the same period in the prior year, the company posted $0.27 earnings per share. Avangrid’s revenue was up 5.5% compared to the same quarter last year. Research analysts expect that Avangrid will post 2.34 EPS for the current year.

Institutional Investors Weigh In On Avangrid

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Brooklyn Investment Group bought a new position in Avangrid during the 3rd quarter worth $25,000. Blue Trust Inc. grew its holdings in shares of Avangrid by 244.9% during the 3rd quarter. Blue Trust Inc. now owns 807 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 573 shares in the last quarter. Eastern Bank bought a new position in shares of Avangrid in the third quarter worth $30,000. Quarry LP bought a new stake in Avangrid during the third quarter worth about $47,000. Finally, Venturi Wealth Management LLC grew its stake in Avangrid by 1,939.7% during the third quarter. Venturi Wealth Management LLC now owns 2,978 shares of the utilities provider’s stock worth $107,000 after buying an additional 2,832 shares in the last quarter. 13.12% of the stock is currently 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.