Avangrid (NYSE:AGR) Receives New Coverage from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Avangrid (NYSE:AGR) in a research report sent to investors on Wednesday morning. The firm issued a hold rating on the utilities provider’s stock.

Avangrid Stock Performance

AGR stock opened at $35.56 on Wednesday. The company has a current ratio of 0.58, a quick ratio of 0.50 and a debt-to-equity ratio of 0.47. Avangrid has a 12-month low of $27.46 and a 12-month high of $39.13. The stock’s 50 day simple moving average is $35.69 and its 200 day simple moving average is $34.51. The firm has a market cap of $13.76 billion, a P/E ratio of 15.39, a P/E/G ratio of 2.66 and a beta of 0.55.

Avangrid (NYSE:AGR) last announced its quarterly earnings results on Wednesday, April 24th. The utilities provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. The business had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.54 billion. Avangrid had a return on equity of 4.35% and a net margin of 10.80%. The business’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 EPS. As a group, equities research analysts predict that Avangrid will post 2.22 EPS for the current year.

Avangrid Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 4.95%. The ex-dividend date of this dividend is Friday, August 30th. Avangrid’s payout ratio is currently 76.19%.

Institutional Investors Weigh In On Avangrid

Several institutional investors have recently bought and sold shares of AGR. Headlands Technologies LLC bought a new position in Avangrid during the 1st quarter valued at $26,000. Bell Investment Advisors Inc grew its holdings in Avangrid by 163.9% during the first quarter. Bell Investment Advisors Inc now owns 863 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 536 shares during the period. Central Pacific Bank Trust Division acquired a new position in Avangrid during the first quarter worth about $36,000. Toronto Dominion Bank bought a new stake in Avangrid in the first quarter worth about $41,000. Finally, BKM Wealth Management LLC acquired a new stake in Avangrid in the 4th quarter valued at about $41,000. Institutional investors and hedge funds 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.