StockNews.com assumed coverage on shares of Avangrid (NYSE:AGR – Free Report) in a research note released on Wednesday. The firm issued a hold rating on the utilities provider’s stock.
Avangrid Trading Up 0.4 %
Shares of NYSE AGR opened at $35.88 on Wednesday. The business has a fifty day moving average price of $35.70 and a 200 day moving average price of $35.67. 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 has a 1-year low of $27.46 and a 1-year high of $37.70. The stock has a market capitalization of $13.89 billion, a P/E ratio of 15.53, a price-to-earnings-growth ratio of 2.66 and a beta of 0.55.
Avangrid (NYSE:AGR – Get Free Report) last issued its quarterly earnings results on Tuesday, July 23rd. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.22. Avangrid had a return on equity of 4.87% and a net margin of 11.35%. The firm had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period in the previous year, the company posted $0.21 earnings per share. The business’s revenue was up 21.2% on a year-over-year basis. Equities research analysts expect that Avangrid will post 2.24 EPS for the current fiscal year.
Avangrid Dividend Announcement
Institutional Investors Weigh In On Avangrid
A number of institutional investors and hedge funds have recently modified their holdings of the company. Clean Energy Transition LLP acquired a new position in Avangrid in the fourth quarter worth about $75,620,000. Norges Bank acquired a new position in shares of Avangrid in the fourth quarter worth $30,303,000. Charles Schwab Investment Management Inc. boosted its holdings in Avangrid by 8.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 608,977 shares of the utilities provider’s stock worth $19,737,000 after purchasing an additional 48,174 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in Avangrid by 65.1% in the fourth quarter. Hsbc Holdings PLC now owns 373,093 shares of the utilities provider’s stock worth $12,088,000 after purchasing an additional 147,108 shares in the last quarter. Finally, Gamco Investors INC. ET AL boosted its holdings in Avangrid by 2.1% during the first quarter. Gamco Investors INC. ET AL now owns 359,807 shares of the utilities provider’s stock valued at $13,111,000 after acquiring an additional 7,370 shares during the period. 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.
Read More
- Five stocks we like better than Avangrid
- Find and Profitably Trade Stocks at 52-Week Lows
- Powering Your Portfolio: The Utility Sector’s Electrifying Surge
- Business Services Stocks Investing
- Adobe Stock Builds Long-Term Value: Consider Buying on the Dip
- Insider Trading – What You Need to Know
- Albemarle Jumps as Lithium Stock Buying Frenzy Takes Off
Receive News & Ratings for Avangrid Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avangrid and related companies with MarketBeat.com's FREE daily email newsletter.