Avangrid (NYSE:AGR) Earns Hold Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Avangrid (NYSE:AGR) 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) 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

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 4.91%. The ex-dividend date is Friday, August 30th. Avangrid’s payout ratio is currently 76.19%.

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.