Avangrid (NYSE:AGR) Coverage Initiated at StockNews.com

Stock analysts at StockNews.com initiated coverage on shares of Avangrid (NYSE:AGR - Get Free Report) in a research report issued to clients and investors on Friday. The brokerage set a "hold" rating on the utilities provider's stock.

Avangrid Trading Down 0.0 %

Shares of NYSE:AGR opened at $35.75 on Friday. Avangrid has a 52-week low of $27.46 and a 52-week high of $37.70. The company has a market capitalization of $13.84 billion, a P/E ratio of 15.48, a price-to-earnings-growth ratio of 2.67 and a beta of 0.55. The company has a 50-day simple moving average of $35.76 and a 200 day simple moving average of $35.87. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.44 and a current ratio of 0.52.

Avangrid (NYSE:AGR - Get Free Report) last issued its earnings results on Tuesday, July 23rd. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.22. The business 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%. Avangrid's revenue was up 21.2% on a year-over-year basis. During the same period last year, the business posted $0.21 EPS. Sell-side analysts forecast that Avangrid will post 2.24 earnings per share for the current year.

Institutional Investors Weigh In On Avangrid

Several hedge funds have recently bought and sold shares of AGR. Janney Montgomery Scott LLC acquired a new stake in Avangrid during the fourth quarter worth approximately $856,000. Norges Bank acquired a new stake in shares of Avangrid in the fourth quarter valued at approximately $30,303,000. PNC Financial Services Group Inc. raised its position in shares of Avangrid by 20.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,713 shares of the utilities provider's stock valued at $347,000 after buying an additional 1,855 shares in the last quarter. Hsbc Holdings PLC raised its position in shares of Avangrid by 65.1% in the fourth quarter. Hsbc Holdings PLC now owns 373,093 shares of the utilities provider's stock valued at $12,088,000 after buying an additional 147,108 shares in the last quarter. Finally, Pinebridge Investments L.P. raised its position in shares of Avangrid by 32.5% in the fourth quarter. Pinebridge Investments L.P. now owns 235,316 shares of the utilities provider's stock valued at $7,625,000 after buying an additional 57,775 shares in the last quarter. 13.12% of the stock is currently owned by institutional investors and hedge funds.

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.