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

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

Avangrid Stock Down 0.1 %

Shares of NYSE AGR opened at $35.76 on Thursday. The company has a market cap of $13.84 billion, a P/E ratio of 15.48, a PEG ratio of 2.66 and a beta of 0.55. The firm has a 50-day simple moving average of $35.73 and a two-hundred 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 debt-to-equity ratio of 0.49, a current ratio of 0.52 and a quick ratio of 0.44.

Avangrid (NYSE:AGR) last posted its quarterly earnings data 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. The company had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Avangrid had a return on equity of 4.87% and a net margin of 11.35%. Avangrid’s revenue was up 21.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.21 EPS. Research analysts anticipate that Avangrid will post 2.24 earnings per share for the current year.

Avangrid Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 2nd will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 4.92%. The ex-dividend date is Friday, August 30th. Avangrid’s dividend payout ratio is presently 76.19%.

Institutional Trading of Avangrid

Institutional investors and hedge funds have recently modified their holdings of the stock. Headlands Technologies LLC purchased a new position in shares of Avangrid during the first quarter valued at $26,000. Robeco Institutional Asset Management B.V. lifted its stake in Avangrid by 2,285.5% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 96,754 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 92,698 shares during the period. Bell Investment Advisors Inc grew its holdings in Avangrid by 163.9% during the 1st quarter. Bell Investment Advisors Inc now owns 863 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 536 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in Avangrid during the 1st quarter valued at about $36,000. Finally, Toronto Dominion Bank bought a new stake in shares of Avangrid in the 1st quarter valued at about $41,000. 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.