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

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

Avangrid Stock Performance

Shares of Avangrid stock opened at $35.73 on Friday. The company’s 50-day moving average price is $35.79 and its 200-day moving average price is $35.87. The company has a current ratio of 0.52, a quick ratio of 0.44 and a debt-to-equity ratio of 0.49. Avangrid has a 12-month low of $28.75 and a 12-month high of $37.70. The company has a market cap of $13.83 billion, a price-to-earnings ratio of 14.12, a PEG ratio of 2.66 and a beta of 0.55.

Avangrid (NYSE:AGR) last posted its earnings results on Tuesday, July 23rd. The utilities provider reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.22. Avangrid had a net margin of 11.35% and a return on equity of 4.87%. The business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the prior year, the firm posted $0.21 EPS. Avangrid’s revenue was up 21.2% on a year-over-year basis. On average, equities analysts expect that Avangrid will post 2.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP lifted its position in Avangrid by 7.4% during the fourth quarter. Wellington Management Group LLP now owns 141,128 shares of the utilities provider’s stock valued at $4,574,000 after purchasing an additional 9,766 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Avangrid by 20.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,713 shares of the utilities provider’s stock worth $347,000 after acquiring an additional 1,855 shares during the last quarter. Quadrature Capital Ltd bought a new stake in shares of Avangrid during the 4th quarter worth $668,000. GAMMA Investing LLC grew its position in Avangrid by 68.0% in the first quarter. GAMMA Investing LLC now owns 3,339 shares of the utilities provider’s stock worth $122,000 after acquiring an additional 1,352 shares in the last quarter. Finally, Global Assets Advisory LLC bought a new position in Avangrid in the first quarter valued at $1,540,000. 13.12% of the stock is currently owned by institutional investors.

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.