Avangrid (NYSE:AGR) Now Covered by StockNews.com

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

Avangrid Price Performance

AGR opened at $36.02 on Friday. The business’s 50-day moving average is $35.90 and its two-hundred day moving average is $35.77. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.51 and a quick ratio of 0.44. Avangrid has a 1 year low of $29.71 and a 1 year high of $37.70. The firm has a market capitalization of $13.94 billion, a PE ratio of 12.38, a price-to-earnings-growth ratio of 2.54 and a beta of 0.56.

Avangrid (NYSE:AGR) last announced its earnings results on Tuesday, October 22nd. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.22. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.04 billion. Avangrid had a return on equity of 5.37% and a net margin of 12.89%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.27 EPS. Research analysts anticipate that Avangrid will post 2.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Avangrid

Hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its holdings in Avangrid by 11.0% in the third quarter. JPMorgan Chase & Co. now owns 653,201 shares of the utilities provider’s stock valued at $23,378,000 after acquiring an additional 64,720 shares during the period. DGS Capital Management LLC boosted its stake in shares of Avangrid by 6.2% in the third quarter. DGS Capital Management LLC now owns 16,864 shares of the utilities provider’s stock worth $604,000 after acquiring an additional 986 shares during the last quarter. Franklin Resources Inc. boosted its stake in Avangrid by 9.1% during the 3rd quarter. Franklin Resources Inc. now owns 7,194 shares of the utilities provider’s stock worth $257,000 after purchasing an additional 603 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in Avangrid during the 3rd quarter valued at about $330,000. Finally, Virtu Financial LLC purchased a new stake in shares of Avangrid in the third quarter valued at approximately $464,000. 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.