Avangrid (NYSE:AGR) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of Avangrid (NYSE:AGR) in a report issued on Friday. The brokerage issued a hold rating on the utilities provider’s stock.

Avangrid Stock Performance

NYSE:AGR opened at $36.02 on Friday. Avangrid has a 52 week low of $29.71 and a 52 week high of $37.70. The stock has a market cap of $13.94 billion, a price-to-earnings ratio of 12.38, a PEG ratio of 2.54 and a beta of 0.56. The company’s 50 day moving average price is $35.90 and its 200-day moving average price is $35.77. The company has a quick ratio of 0.44, a current ratio of 0.51 and a debt-to-equity ratio of 0.52.

Avangrid (NYSE:AGR) last released its quarterly earnings data on Tuesday, October 22nd. The utilities provider reported $0.55 EPS for the quarter, topping the consensus estimate of $0.33 by $0.22. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.04 billion. Avangrid had a return on equity of 5.37% and a net margin of 12.89%. Avangrid’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period last year, the company earned $0.27 EPS. On average, equities research analysts forecast that Avangrid will post 2.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Avangrid

A number of institutional investors have recently bought and sold shares of the stock. American Century Companies Inc. lifted its position in shares of Avangrid by 5.7% in the second quarter. American Century Companies Inc. now owns 10,303 shares of the utilities provider’s stock valued at $366,000 after acquiring an additional 560 shares in the last quarter. Renaissance Technologies LLC raised its stake in Avangrid by 466.5% during the second quarter. Renaissance Technologies LLC now owns 135,400 shares of the utilities provider’s stock valued at $4,811,000 after purchasing an additional 111,500 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its position in shares of Avangrid by 143.0% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 23,565 shares of the utilities provider’s stock valued at $837,000 after buying an additional 13,867 shares in the last quarter. Amalgamated Bank lifted its stake in shares of Avangrid by 104.5% in the 2nd quarter. Amalgamated Bank now owns 8,289 shares of the utilities provider’s stock valued at $295,000 after purchasing an additional 4,236 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in Avangrid by 12.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 62,388 shares of the utilities provider’s stock worth $2,217,000 after buying an additional 6,809 shares during the period. 13.12% of the stock is owned by institutional investors.

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.