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

StockNews.com initiated coverage on shares of Avangrid (NYSE:AGR) in a research note issued to investors on Friday. The firm set a “hold” rating on the utilities provider’s stock.

Avangrid Stock Performance

AGR opened at $35.76 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.52 and a quick ratio of 0.44. The business has a fifty day simple moving average of $35.76 and a 200 day simple moving average of $35.87. Avangrid has a 1 year low of $27.46 and a 1 year high of $37.70. The company has a market capitalization of $13.84 billion, a PE ratio of 15.48, a price-to-earnings-growth ratio of 2.67 and a beta of 0.55.

Avangrid (NYSE:AGR) last announced its earnings results on Tuesday, July 23rd. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. Avangrid had a net margin of 11.35% and a return on equity of 4.87%. The company had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the previous year, the business posted $0.21 earnings per share. Avangrid’s quarterly revenue was up 21.2% on a year-over-year basis. Research analysts expect that Avangrid will post 2.24 EPS for the current year.

Institutional Trading of Avangrid

Several large investors have recently modified their holdings of AGR. Headlands Technologies LLC bought a new stake in Avangrid during the first quarter worth about $26,000. Bell Investment Advisors Inc increased its stake in Avangrid by 163.9% in the first quarter. Bell Investment Advisors Inc now owns 863 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 536 shares during the last quarter. Central Pacific Bank Trust Division bought a new position in Avangrid in the first quarter valued at approximately $36,000. Toronto Dominion Bank acquired a new position in Avangrid during the first quarter valued at approximately $41,000. Finally, Quent Capital LLC raised its position in Avangrid by 31.0% during the first quarter. Quent Capital LLC now owns 1,486 shares of the utilities provider’s stock valued at $54,000 after purchasing an additional 352 shares in the last quarter. 13.12% of the stock is owned by institutional investors and hedge funds.

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.