Avangrid (NYSE:AGR) Coverage Initiated by Analysts at StockNews.com

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

Avangrid Price Performance

Shares of Avangrid stock opened at $35.97 on Friday. The business’s fifty day moving average price is $35.53 and its 200 day moving average price is $35.13. Avangrid has a twelve month low of $27.46 and a twelve month high of $37.70. The company has a current ratio of 0.52, a quick ratio of 0.44 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $13.92 billion, a P/E ratio of 15.57, a PEG ratio of 2.69 and a beta of 0.55.

Avangrid (NYSE:AGR) last released its quarterly earnings data on Tuesday, July 23rd. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $1.72 billion. During the same quarter in the prior year, the business earned $0.21 earnings per share. The business’s quarterly revenue was up 21.2% compared to the same quarter last year. As a group, research analysts anticipate that Avangrid will post 2.23 earnings per share for the current year.

Avangrid Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 2nd will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date of this dividend is Friday, August 30th. Avangrid’s dividend payout ratio is currently 76.19%.

Institutional Investors Weigh In On Avangrid

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Clean Energy Transition LLP bought a new position in Avangrid during the 4th quarter worth approximately $75,620,000. Norges Bank bought a new position in Avangrid during the fourth quarter worth $30,303,000. Natixis lifted its stake in Avangrid by 3,122.3% during the first quarter. Natixis now owns 166,432 shares of the utilities provider’s stock worth $6,065,000 after purchasing an additional 161,267 shares during the last quarter. Versor Investments LP acquired a new position in Avangrid in the second quarter worth $5,468,000. Finally, Hsbc Holdings PLC increased its stake in Avangrid by 65.1% during the fourth quarter. Hsbc Holdings PLC now owns 373,093 shares of the utilities provider’s stock valued at $12,088,000 after purchasing an additional 147,108 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.