Avangrid (NYSE:AGR) Now Covered by Analysts at StockNews.com

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

Avangrid Price Performance

Shares of AGR stock opened at $36.10 on Friday. The firm has a market cap of $13.97 billion, a price-to-earnings ratio of 12.41, a PEG ratio of 2.57 and a beta of 0.55. Avangrid has a 12 month low of $29.71 and a 12 month high of $37.70. The company has a quick ratio of 0.44, a current ratio of 0.51 and a debt-to-equity ratio of 0.52. The stock has a 50-day moving average price of $35.82 and a 200 day moving average price of $35.72.

Avangrid (NYSE:AGR) last issued its earnings results on Tuesday, October 22nd. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.22. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.04 billion. Avangrid had a net margin of 12.89% and a return on equity of 5.37%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.27 EPS. Research analysts expect that Avangrid will post 2.34 EPS for the current year.

Hedge Funds Weigh In On Avangrid

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. increased its stake in Avangrid by 9.1% in the third quarter. Franklin Resources Inc. now owns 7,194 shares of the utilities provider’s stock valued at $257,000 after purchasing an additional 603 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Avangrid in the 3rd quarter valued at $330,000. Virtu Financial LLC bought a new stake in shares of Avangrid in the 3rd quarter valued at $464,000. Geode Capital Management LLC lifted its position in shares of Avangrid by 1.6% in the third quarter. Geode Capital Management LLC now owns 1,072,808 shares of the utilities provider’s stock worth $38,407,000 after purchasing an additional 16,960 shares in the last quarter. Finally, M&T Bank Corp boosted its holdings in Avangrid by 8.0% during the third quarter. M&T Bank Corp now owns 9,269 shares of the utilities provider’s stock worth $332,000 after purchasing an additional 688 shares during the last quarter. Institutional investors 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.