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

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

Avangrid Price Performance

Shares of AGR opened at $36.21 on Friday. The firm has a market cap of $14.01 billion, a PE ratio of 12.44, a PEG ratio of 2.56 and a beta of 0.55. The firm’s 50 day moving average price is $35.77 and its 200 day moving average price is $35.78. 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 has a twelve month low of $29.71 and a twelve month high of $37.70.

Avangrid (NYSE:AGR) last released its quarterly earnings results on Tuesday, October 22nd. The utilities provider reported $0.55 EPS for the quarter, beating 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 company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.04 billion. During the same quarter last year, the firm posted $0.27 earnings per share. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. As a group, research analysts expect that Avangrid will post 2.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Avangrid

A number of institutional investors have recently bought and sold shares of AGR. CANADA LIFE ASSURANCE Co boosted its stake in Avangrid by 1.7% during the first quarter. CANADA LIFE ASSURANCE Co now owns 36,387 shares of the utilities provider’s stock worth $1,329,000 after buying an additional 594 shares in the last quarter. Toronto Dominion Bank acquired a new stake in Avangrid during the first quarter worth $41,000. Quadrature Capital Ltd raised its stake in Avangrid by 39.7% during the first quarter. Quadrature Capital Ltd now owns 28,813 shares of the utilities provider’s stock worth $1,051,000 after acquiring an additional 8,192 shares in the last quarter. LRI Investments LLC bought a new position in shares of Avangrid during the first quarter valued at $135,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Avangrid by 12.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 37,393 shares of the utilities provider’s stock valued at $1,363,000 after purchasing an additional 4,240 shares in the last quarter. Institutional investors and hedge funds own 13.12% of the company’s stock.

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.