Avangrid (NYSE:AGR) Research Coverage Started at StockNews.com

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

Avangrid Price Performance

Shares of NYSE AGR opened at $36.02 on Tuesday. The company has a market capitalization of $13.94 billion, a P/E ratio of 12.38, a P/E/G ratio of 2.54 and a beta of 0.56. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.51 and a quick ratio of 0.44. The company has a 50 day simple moving average of $35.80 and a 200-day simple moving average of $35.69. Avangrid has a 1 year low of $29.71 and a 1 year high of $37.70.

Avangrid (NYSE:AGR) last posted its 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 analysts’ expectations of $2.04 billion. During the same quarter in the prior year, the company posted $0.27 earnings per share. Avangrid’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, equities research analysts predict that Avangrid will post 2.34 earnings per share for the current year.

Hedge Funds Weigh In On Avangrid

Institutional investors and hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its position 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 worth $31,665,000 after acquiring an additional 197,841 shares in the last quarter. Versor Investments LP acquired a new position in Avangrid in the second quarter valued at approximately $5,468,000. Marshall Wace LLP increased 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 valued at $5,351,000 after purchasing an additional 136,573 shares during the last quarter. Renaissance Technologies LLC increased its stake in Avangrid by 466.5% in the second quarter. Renaissance Technologies LLC now owns 135,400 shares of the utilities provider’s stock valued at $4,811,000 after purchasing an additional 111,500 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of Avangrid by 353.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 110,163 shares of the utilities provider’s stock worth $3,943,000 after buying an additional 85,847 shares during the last quarter. 13.12% of the stock is owned by institutional investors and hedge funds.

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.