Avangrid (NYSE:AGR) Earns Hold Rating from Analysts at StockNews.com

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

Avangrid Trading Up 0.6 %

NYSE AGR opened at $35.97 on Thursday. The firm has a market cap of $13.92 billion, a PE ratio of 12.36, a price-to-earnings-growth ratio of 2.56 and a beta of 0.55. Avangrid has a 1-year low of $29.71 and a 1-year high of $37.70. The stock has a 50-day moving average of $35.75 and a 200-day moving average of $35.78. 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 announced 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 business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.04 billion. Avangrid had a return on equity of 5.37% and a net margin of 12.89%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.27 EPS. As a group, sell-side analysts forecast that Avangrid will post 2.34 EPS for the current year.

Avangrid Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.76 annualized dividend and a yield of 4.89%. Avangrid’s payout ratio is currently 60.48%.

Institutional Trading of Avangrid

Several large investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its holdings in Avangrid by 28.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 884,742 shares of the utilities provider’s stock worth $31,665,000 after buying an additional 197,841 shares during the period. Natixis increased its stake in shares of Avangrid by 3,122.3% during the first quarter. Natixis now owns 166,432 shares of the utilities provider’s stock valued at $6,065,000 after buying an additional 161,267 shares during the period. Versor Investments LP bought a new position in shares of Avangrid during the second quarter valued at approximately $5,468,000. Marshall Wace LLP lifted its stake in Avangrid by 973.5% in the second quarter. Marshall Wace LLP now owns 150,602 shares of the utilities provider’s stock worth $5,351,000 after acquiring an additional 136,573 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in Avangrid in the first quarter valued at $4,504,000. 13.12% of the stock is 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.