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

StockNews.com assumed coverage on shares of Avangrid (NYSE:AGR) in a research report sent to investors on Monday morning. The firm issued a hold rating on the utilities provider’s stock.

Avangrid Stock Performance

Shares of NYSE:AGR opened at $35.68 on Monday. The company has a market capitalization of $13.80 billion, a price-to-earnings ratio of 12.26, a PEG ratio of 2.54 and a beta of 0.56. The firm’s 50-day moving average is $35.78 and its 200 day moving average is $35.68. Avangrid has a 12 month low of $29.71 and a 12 month high of $37.70. The company has a current ratio of 0.51, a quick ratio of 0.44 and a debt-to-equity ratio of 0.52.

Avangrid (NYSE:AGR) last posted its quarterly earnings results on Tuesday, October 22nd. The utilities provider reported $0.55 EPS for the quarter, topping 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 business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.27 earnings per share. Research analysts predict that Avangrid will post 2.34 EPS for the current year.

Avangrid Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a $0.44 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.76 annualized dividend and a dividend yield of 4.93%. Avangrid’s dividend payout ratio is currently 60.48%.

Institutional Trading of Avangrid

A number of hedge funds have recently bought and sold shares of AGR. Geode Capital Management LLC increased its position in shares of Avangrid by 1.6% during the third quarter. Geode Capital Management LLC now owns 1,072,808 shares of the utilities provider’s stock worth $38,407,000 after purchasing an additional 16,960 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Avangrid by 28.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 884,742 shares of the utilities provider’s stock valued at $31,665,000 after buying an additional 197,841 shares during the last quarter. Empower Advisory Group LLC raised 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 valued at $13,006,000 after acquiring an additional 1,983 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Avangrid by 34.7% in the 2nd quarter. Millennium Management LLC now owns 308,134 shares of the utilities provider’s stock valued at $10,948,000 after purchasing an additional 79,463 shares during the period. Finally, Gabelli Funds LLC raised its position in shares of Avangrid by 26.1% in the second quarter. Gabelli Funds LLC now owns 297,474 shares of the utilities provider’s stock worth $10,569,000 after acquiring an additional 61,574 shares during the period. Hedge funds and other 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.