Avangrid (NYSE:AGR) Earns Hold Rating from Analysts at StockNews.com

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

Avangrid Stock Up 0.1 %

Shares of NYSE:AGR traded up $0.02 during trading on Monday, reaching $35.67. 438,264 shares of the stock traded hands, compared to its average volume of 795,260. The stock has a 50-day moving average of $35.78 and a two-hundred day moving average of $35.85. Avangrid has a 52-week low of $28.75 and a 52-week high of $37.70. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.44 and a current ratio of 0.52. The stock has a market cap of $13.80 billion, a P/E ratio of 15.43, a price-to-earnings-growth ratio of 2.66 and a beta of 0.55.

Avangrid (NYSE:AGR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 23rd. The utilities provider reported $0.49 EPS for the quarter, beating analysts' consensus estimates of $0.27 by $0.22. Avangrid had a net margin of 11.35% and a return on equity of 4.87%. The firm had revenue of $1.92 billion for the quarter, compared to analysts' expectations of $1.72 billion. During the same quarter in the prior year, the company posted $0.21 earnings per share. The business's revenue for the quarter was up 21.2% on a year-over-year basis. As a group, sell-side analysts expect that Avangrid will post 2.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Avangrid

A number of institutional investors have recently made changes to their positions in the company. Natixis lifted its position in Avangrid by 3,122.3% during the first quarter. Natixis now owns 166,432 shares of the utilities provider's stock valued at $6,065,000 after purchasing an additional 161,267 shares during the period. Versor Investments LP bought a new position in Avangrid during the second quarter valued at approximately $5,468,000. Marshall Wace LLP lifted its position in Avangrid by 973.5% during the second quarter. Marshall Wace LLP now owns 150,602 shares of the utilities provider's stock valued at $5,351,000 after purchasing an additional 136,573 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in Avangrid during the first quarter valued at approximately $4,504,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in Avangrid during the first quarter valued at approximately $4,396,000. Hedge funds and other institutional investors 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.