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

StockNews.com started coverage on shares of Avangrid (NYSE:AGR) in a research report report published on Wednesday morning. The brokerage issued a hold rating on the utilities provider’s stock.

Avangrid Price Performance

AGR stock opened at $36.02 on Wednesday. Avangrid has a 1-year low of $29.71 and a 1-year high of $37.70. The stock has a market cap of $13.94 billion, a P/E ratio of 12.38, a P/E/G ratio of 2.54 and a beta of 0.56. The stock’s fifty day simple moving average is $35.83 and its two-hundred day simple moving average is $35.71. 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 (NYSE:AGR) last announced its quarterly earnings data on Tuesday, October 22nd. The utilities provider reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.22. The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.04 billion. Avangrid had a return on equity of 5.37% and a net margin of 12.89%. Avangrid’s revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.27 earnings per share. Analysts expect that Avangrid will post 2.34 EPS for the current year.

Hedge Funds Weigh In On Avangrid

Hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC increased its stake in Avangrid by 1.6% in the third quarter. Geode Capital Management LLC now owns 1,072,808 shares of the utilities provider’s stock valued at $38,407,000 after acquiring an additional 16,960 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in Avangrid in the 3rd quarter worth approximately $330,000. Kestra Investment Management LLC bought a new position in Avangrid during the third quarter valued at approximately $553,000. Creative Planning lifted its holdings in shares of Avangrid by 17.4% in the 3rd quarter. Creative Planning now owns 37,986 shares of the utilities provider’s stock worth $1,360,000 after acquiring an additional 5,618 shares during the last quarter. Finally, Royal London Asset Management Ltd. grew its holdings in shares of Avangrid by 276.5% during the 3rd quarter. Royal London Asset Management Ltd. now owns 105,430 shares of the utilities provider’s stock valued at $3,773,000 after purchasing an additional 77,425 shares during the last quarter. Hedge funds and other institutional investors own 13.12% of the company’s stock.

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.