Avangrid (NYSE:AGR) Coverage Initiated by Analysts at StockNews.com

StockNews.com started coverage on shares of Avangrid (NYSE:AGR) in a research report released on Saturday. The firm issued a hold rating on the utilities provider’s stock.

Avangrid Stock Down 0.1 %

Shares of NYSE AGR opened at $36.10 on Friday. 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 has a 12-month low of $29.71 and a 12-month high of $37.70. The firm’s 50-day moving average price is $35.82 and its 200-day moving average price is $35.74. The stock has a market capitalization of $13.97 billion, a price-to-earnings ratio of 12.41, a P/E/G ratio of 2.57 and a beta of 0.55.

Avangrid (NYSE:AGR) last issued its quarterly earnings data on Tuesday, October 22nd. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.22. The business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.04 billion. Avangrid had a return on equity of 5.37% and a net margin of 12.89%. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.27 earnings per share. On average, equities research analysts anticipate that Avangrid will post 2.34 EPS for the current fiscal year.

Avangrid Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 4.88%. The ex-dividend date is Monday, December 2nd. Avangrid’s payout ratio is 60.48%.

Institutional Investors Weigh In On Avangrid

Several hedge funds and other institutional investors have recently made changes to their positions in AGR. Franklin Resources Inc. lifted its stake in Avangrid by 9.1% in the third quarter. Franklin Resources Inc. now owns 7,194 shares of the utilities provider’s stock worth $257,000 after purchasing an additional 603 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Avangrid in the third quarter worth approximately $330,000. Virtu Financial LLC bought a new stake in shares of Avangrid during the 3rd quarter worth approximately $464,000. Geode Capital Management LLC boosted its holdings in Avangrid by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,072,808 shares of the utilities provider’s stock valued at $38,407,000 after acquiring an additional 16,960 shares during the period. Finally, M&T Bank Corp grew its position in Avangrid by 8.0% in the 3rd quarter. M&T Bank Corp now owns 9,269 shares of the utilities provider’s stock valued at $332,000 after acquiring an additional 688 shares during the last quarter. Hedge funds and other institutional investors 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.