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

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

Avangrid Stock Performance

NYSE AGR opened at $35.69 on Wednesday. Avangrid has a 52-week low of $29.33 and a 52-week high of $37.70. The company has a 50-day simple moving average of $35.73 and a 200 day simple moving average of $35.83. 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 company has a market capitalization of $13.81 billion, a PE ratio of 12.26, a price-to-earnings-growth ratio of 2.53 and a beta of 0.55.

Avangrid (NYSE:AGR) last posted its quarterly earnings data on Tuesday, October 22nd. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $2.04 billion. During the same quarter last year, the company posted $0.27 earnings per share. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, research analysts predict that Avangrid will post 2.34 EPS for the current year.

Hedge Funds Weigh In On Avangrid

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Empower Advisory Group LLC boosted its position in Avangrid by 0.5% during the third quarter. Empower Advisory Group LLC now owns 363,399 shares of the utilities provider’s stock worth $13,006,000 after purchasing an additional 1,983 shares during the period. GSA Capital Partners LLP boosted its position in Avangrid by 118.2% during the third quarter. GSA Capital Partners LLP now owns 41,166 shares of the utilities provider’s stock worth $1,473,000 after purchasing an additional 22,297 shares during the period. Venturi Wealth Management LLC boosted its position 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 purchasing an additional 2,832 shares during the period. Wolverine Asset Management LLC bought a new position in Avangrid during the third quarter worth about $255,000. Finally, Harvest Portfolios Group Inc. boosted its position in Avangrid by 8.3% during the third quarter. Harvest Portfolios Group Inc. now owns 151,820 shares of the utilities provider’s stock worth $5,434,000 after purchasing an additional 11,667 shares during the period. Institutional investors own 13.12% of the company’s stock.

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.