StockNews.com Begins Coverage on Avangrid (NYSE:AGR)

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

Avangrid Stock Up 0.1 %

Shares of Avangrid stock opened at $35.79 on Friday. The stock has a 50-day simple moving average of $35.77 and a 200-day simple moving average of $35.87. Avangrid has a 52-week low of $27.46 and a 52-week high of $37.70. The firm has a market cap of $13.85 billion, a price-to-earnings ratio of 15.49, a P/E/G ratio of 2.67 and a beta of 0.55. 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 (NYSE:AGR) last posted its earnings results on Tuesday, July 23rd. The utilities provider reported $0.49 EPS for the quarter, topping the consensus estimate of $0.27 by $0.22. The company had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.72 billion. Avangrid had a net margin of 11.35% and a return on equity of 4.87%. The company’s revenue for the quarter was up 21.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.21 earnings per share. On average, equities research analysts expect that Avangrid will post 2.24 earnings per share for the current fiscal year.

Avangrid Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.76 annualized dividend and a dividend yield of 4.92%. Avangrid’s dividend payout ratio (DPR) is presently 76.19%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Clean Energy Transition LLP bought a new stake in Avangrid in the 4th quarter valued at $75,620,000. Norges Bank bought a new stake in shares of Avangrid in the 4th quarter worth about $30,303,000. Natixis increased its position in shares of Avangrid by 3,122.3% during the 1st quarter. Natixis now owns 166,432 shares of the utilities provider’s stock worth $6,065,000 after purchasing an additional 161,267 shares in the last quarter. Versor Investments LP bought a new position in Avangrid during the 2nd quarter valued at about $5,468,000. Finally, Hsbc Holdings PLC grew 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 worth $12,088,000 after buying an additional 147,108 shares during the last quarter. Institutional investors and hedge funds 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.