Avangrid (NYSE:AGR) Now Covered by Analysts at StockNews.com

StockNews.com began coverage on shares of Avangrid (NYSE:AGR) in a research note issued to investors on Friday. The firm issued a hold rating on the utilities provider’s stock.

Avangrid Trading Up 0.2 %

NYSE:AGR opened at $36.15 on Friday. The company has a 50-day moving average price of $35.79 and a 200-day moving average price of $35.75. The stock has a market cap of $13.99 billion, a price-to-earnings ratio of 12.42, a P/E/G ratio of 2.57 and a beta of 0.55. 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 has a 12 month low of $29.71 and a 12 month high of $37.70.

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

Avangrid Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given 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 4.87%. Avangrid’s dividend payout ratio (DPR) is presently 60.48%.

Institutional Investors Weigh In On Avangrid

Large investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. increased its holdings in Avangrid by 28.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 884,742 shares of the utilities provider’s stock worth $31,665,000 after acquiring an additional 197,841 shares in the last quarter. Versor Investments LP bought a new position in shares of Avangrid in the second quarter worth about $5,468,000. Marshall Wace LLP grew its position in shares of Avangrid by 973.5% during the second quarter. Marshall Wace LLP now owns 150,602 shares of the utilities provider’s stock worth $5,351,000 after purchasing an additional 136,573 shares in the last quarter. Renaissance Technologies LLC raised its stake in Avangrid by 466.5% during the 2nd 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 during the period. Finally, BNP Paribas Financial Markets lifted its holdings in Avangrid by 353.0% in the 3rd 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 in the last quarter. 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.