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

StockNews.com started coverage on shares of Avangrid (NYSE:AGR - Free Report) in a research note issued to investors on Friday morning. The brokerage issued a hold rating on the utilities provider's stock.

Avangrid Stock Down 0.4 %

NYSE AGR traded down $0.15 on Friday, reaching $36.08. The company had a trading volume of 498,174 shares, compared to its average volume of 770,182. The firm has a market capitalization of $13.96 billion, a price-to-earnings ratio of 12.45, a price-to-earnings-growth ratio of 2.56 and a beta of 0.55. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.44 and a current ratio of 0.51. Avangrid has a 1-year low of $29.71 and a 1-year high of $37.70. The company's fifty day moving average is $35.77 and its 200-day moving average is $35.78.

Avangrid (NYSE:AGR - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The utilities provider reported $0.55 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.22. Avangrid had a net margin of 12.89% and a return on equity of 5.37%. The firm had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.04 billion. During the same period in the prior year, the business earned $0.27 EPS. The company's revenue for the quarter was up 5.5% compared to the same quarter last year. On average, research analysts forecast that Avangrid will post 2.34 earnings per share for the current fiscal year.

Avangrid Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a $0.44 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.76 annualized dividend and a yield of 4.88%. Avangrid's dividend payout ratio (DPR) is currently 60.48%.

Institutional Investors Weigh In On Avangrid

Several hedge funds have recently bought and sold shares of AGR. CANADA LIFE ASSURANCE Co lifted its stake in Avangrid by 1.7% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 36,387 shares of the utilities provider's stock valued at $1,329,000 after purchasing an additional 594 shares during the last quarter. Toronto Dominion Bank acquired a new stake in Avangrid during the first quarter worth approximately $41,000. Quadrature Capital Ltd lifted its position in Avangrid by 39.7% during the first quarter. Quadrature Capital Ltd now owns 28,813 shares of the utilities provider's stock worth $1,051,000 after acquiring an additional 8,192 shares during the last quarter. LRI Investments LLC acquired a new stake in Avangrid during the first quarter worth approximately $135,000. Finally, Price T Rowe Associates Inc. MD lifted its position in Avangrid by 12.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 37,393 shares of the utilities provider's stock worth $1,363,000 after acquiring an additional 4,240 shares during 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.