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

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

Avangrid Stock Performance

Shares of NYSE AGR opened at $35.55 on Friday. The company’s fifty day moving average price is $35.80 and its 200 day moving average price is $35.70. The company has a market capitalization of $13.75 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 2.53 and a beta of 0.56. Avangrid has a 1 year low of $29.71 and a 1 year high of $37.70. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.44 and a current ratio of 0.51.

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

Avangrid Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a dividend of $0.44 per share. The ex-dividend date 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 presently 60.48%.

Institutional Investors Weigh In On Avangrid

Large investors have recently bought and sold shares of the company. Brooklyn Investment Group purchased a new position in shares of Avangrid in the third quarter valued at approximately $25,000. Blue Trust Inc. raised its stake in Avangrid by 244.9% in the 3rd quarter. Blue Trust Inc. now owns 807 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 573 shares during the last quarter. Eastern Bank purchased a new position in Avangrid in the 3rd quarter valued at $30,000. Quarry LP acquired a new stake in Avangrid during the 3rd quarter worth $47,000. Finally, Venturi Wealth Management LLC raised its position in shares of Avangrid by 1,939.7% in the third quarter. Venturi Wealth Management LLC now owns 2,978 shares of the utilities provider’s stock valued at $107,000 after buying an additional 2,832 shares during the last quarter. 13.12% of the stock is currently owned by hedge funds and other 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.