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

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

Avangrid Stock Performance

Shares of NYSE AGR opened at $35.72 on Tuesday. 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 firm has a market cap of $13.82 billion, a price-to-earnings ratio of 15.46, a P/E/G ratio of 2.66 and a beta of 0.55. The stock’s fifty day moving average price is $35.76 and its two-hundred day moving average price is $35.85. Avangrid has a one year low of $29.14 and a one year high of $37.70.

Avangrid (NYSE:AGR) last released its quarterly earnings results on Tuesday, October 22nd. The utilities provider reported $0.55 EPS for the quarter, beating the consensus estimate of $0.33 by $0.22. Avangrid had a net margin of 11.35% and a return on equity of 4.87%. 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 prior year, the company posted $0.27 earnings per share. Avangrid’s revenue was up 5.5% compared to the same quarter last year. On average, equities analysts forecast that Avangrid will post 2.24 EPS for the current year.

Avangrid Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, December 2nd will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 4.93%. The ex-dividend date of this dividend is Monday, December 2nd. Avangrid’s dividend payout ratio (DPR) is currently 76.19%.

Hedge Funds Weigh In On Avangrid

Hedge funds have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP acquired a new stake in shares of Avangrid during the 1st quarter worth $1,598,000. QRG Capital Management Inc. increased its holdings in Avangrid by 225.0% in the 2nd quarter. QRG Capital Management Inc. now owns 33,050 shares of the utilities provider’s stock valued at $1,174,000 after buying an additional 22,880 shares during the period. Natixis raised its position in shares of Avangrid by 3,122.3% in the 1st quarter. Natixis now owns 166,432 shares of the utilities provider’s stock valued at $6,065,000 after buying an additional 161,267 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Avangrid during the 1st quarter worth approximately $4,396,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Avangrid during the 1st quarter worth approximately $4,504,000. 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.