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

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

Avangrid Price Performance

Shares of Avangrid stock opened at $35.63 on Monday. The stock has a market capitalization of $13.79 billion, a price-to-earnings ratio of 12.24, a P/E/G ratio of 2.54 and a beta of 0.56. The firm’s 50-day moving average price is $35.78 and its two-hundred day moving average price is $35.68. 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 1-year low of $29.71 and a 1-year high of $37.70.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AGR. Creative Planning raised its position in shares of Avangrid by 17.4% during the third quarter. Creative Planning now owns 37,986 shares of the utilities provider’s stock worth $1,360,000 after acquiring an additional 5,618 shares during the last quarter. Kestra Investment Management LLC acquired a new position in Avangrid in the third quarter valued at about $553,000. Royal London Asset Management Ltd. lifted its stake in Avangrid by 276.5% in the third quarter. Royal London Asset Management Ltd. now owns 105,430 shares of the utilities provider’s stock valued at $3,773,000 after buying an additional 77,425 shares during the period. Bank of New York Mellon Corp boosted its holdings in Avangrid by 26.9% during the second quarter. Bank of New York Mellon Corp now owns 256,980 shares of the utilities provider’s stock worth $9,130,000 after buying an additional 54,469 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in shares of Avangrid by 244.9% in the 3rd quarter. Blue Trust Inc. now owns 807 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 573 shares during the last quarter. Institutional investors and hedge funds 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.