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

StockNews.com started coverage on shares of Avangrid (NYSE:AGR - Free Report) in a research note published on Tuesday. The firm issued a hold rating on the utilities provider's stock.

Avangrid Price Performance

NYSE AGR remained flat at $36.02 during trading hours on Tuesday. The company had a trading volume of 10 shares, compared to its average volume of 777,961. The business's fifty day moving average is $35.78 and its 200 day moving average is $35.68. The stock has a market cap of $13.94 billion, a P/E ratio of 12.38, a price-to-earnings-growth ratio of 2.54 and a beta of 0.56. Avangrid has a 52-week low of $29.71 and a 52-week high of $37.70. 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 (NYSE:AGR - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 net margin of 12.89% and a return on equity of 5.37%. The business's quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.27 earnings per share. On average, equities analysts anticipate that Avangrid will post 2.34 EPS for the current year.

Avangrid Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 4.89%. The ex-dividend date is Monday, December 2nd. Avangrid's payout ratio is currently 60.48%.

Institutional Investors Weigh In On Avangrid

A number of institutional investors have recently modified their holdings of AGR. DGS Capital Management LLC increased its holdings in Avangrid by 6.2% in the third quarter. DGS Capital Management LLC now owns 16,864 shares of the utilities provider's stock valued at $604,000 after buying an additional 986 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Avangrid by 9.1% in the 3rd quarter. Franklin Resources Inc. now owns 7,194 shares of the utilities provider's stock worth $257,000 after acquiring an additional 603 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Avangrid in the 3rd quarter valued at approximately $330,000. Virtu Financial LLC acquired a new stake in shares of Avangrid during the 3rd quarter valued at approximately $464,000. Finally, Geode Capital Management LLC lifted its stake in Avangrid by 1.6% during the third quarter. Geode Capital Management LLC now owns 1,072,808 shares of the utilities provider's stock worth $38,407,000 after purchasing an additional 16,960 shares during the last quarter. 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.