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

Analysts at StockNews.com assumed coverage on shares of Avangrid (NYSE:AGR - Get Free Report) in a research note issued on Monday. The firm set a "hold" rating on the utilities provider's stock.

Avangrid Stock Up 0.3 %

Shares of AGR traded up $0.09 during midday trading on Monday, reaching $35.68. 919,391 shares of the company were exchanged, compared to its average volume of 762,784. The company has a market cap of $13.80 billion, a price-to-earnings ratio of 12.23, a P/E/G ratio of 2.54 and a beta of 0.56. Avangrid has a 1-year low of $29.71 and a 1-year high of $37.70. The stock has a 50-day moving average price of $35.78 and a 200-day moving average price of $35.68. The company has a current ratio of 0.51, a quick ratio of 0.44 and a debt-to-equity ratio of 0.52.

Avangrid (NYSE:AGR - Get Free Report) last released 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 business had revenue of $2.08 billion during 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 business's revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.27 EPS. Research analysts expect that Avangrid will post 2.34 earnings per share for the current year.

Institutional Trading of Avangrid

Several hedge funds and other institutional investors have recently modified their holdings of AGR. Charles Schwab Investment Management Inc. lifted its holdings in shares of Avangrid by 28.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 884,742 shares of the utilities provider's stock worth $31,665,000 after buying an additional 197,841 shares during the last quarter. Versor Investments LP bought a new stake in shares of Avangrid during the second quarter valued at approximately $5,468,000. Marshall Wace LLP boosted its holdings in Avangrid by 973.5% in the second quarter. Marshall Wace LLP now owns 150,602 shares of the utilities provider's stock valued at $5,351,000 after acquiring an additional 136,573 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Avangrid by 466.5% in the second quarter. Renaissance Technologies LLC now owns 135,400 shares of the utilities provider's stock valued at $4,811,000 after acquiring an additional 111,500 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of Avangrid by 353.0% during the third quarter. BNP Paribas Financial Markets now owns 110,163 shares of the utilities provider's stock worth $3,943,000 after purchasing an additional 85,847 shares during the period. 13.12% of the stock is currently owned by hedge funds and other institutional investors.

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.