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

Equities research analysts at StockNews.com assumed coverage on shares of Avangrid (NYSE:AGR – Get Rating) in a report released on Thursday. The brokerage set a “hold” rating on the utilities provider’s stock.

Other equities research analysts also recently issued research reports about the company. KeyCorp upped their price target on Avangrid from $35.00 to $36.00 and gave the stock an “underweight” rating in a report on Tuesday, January 17th. Wells Fargo & Company cut their price objective on Avangrid from $48.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Avangrid currently has an average rating of “Hold” and an average target price of $45.00.

Avangrid Trading Up 1.9 %

Shares of Avangrid stock opened at $39.78 on Thursday. The stock has a fifty day simple moving average of $41.27 and a 200 day simple moving average of $42.57. Avangrid has a 12-month low of $37.64 and a 12-month high of $51.71. The company has a market capitalization of $15.38 billion, a P/E ratio of 17.45, a price-to-earnings-growth ratio of 3.49 and a beta of 0.40. The company has a current ratio of 0.73, a quick ratio of 0.61 and a debt-to-equity ratio of 0.40.

Avangrid (NYSE:AGR – Get Rating) last announced its quarterly earnings results on Wednesday, February 22nd. The utilities provider reported $0.39 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.39. Avangrid had a return on equity of 4.45% and a net margin of 11.12%. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the prior year, the company posted $0.44 earnings per share. On average, sell-side analysts anticipate that Avangrid will post 2.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Huntington National Bank purchased a new position in shares of Avangrid during the 4th quarter valued at $32,000. Money Concepts Capital Corp purchased a new position in shares of Avangrid during the 3rd quarter valued at $31,000. Wahed Invest LLC purchased a new position in shares of Avangrid during the 2nd quarter valued at $35,000. CoreCap Advisors LLC purchased a new position in shares of Avangrid during the 2nd quarter valued at $35,000. Finally, Hexagon Capital Partners LLC lifted its position in shares of Avangrid by 687.6% during the 3rd quarter. Hexagon Capital Partners LLC now owns 827 shares of the utilities provider’s stock valued at $34,000 after buying an additional 722 shares during the last quarter. Hedge funds and other institutional investors own 11.96% of the company’s stock.

About Avangrid

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Avangrid, Inc engages in the energy transmission and gas distribution. It operates through the following segments: Networks, Renewables, and Other. The Networks segment includes energy transmission and distribution, electric transmission, and gas distribution activities. The Renewables segment relates to renewable energy, mainly wind energy generation and trading related to such activities.