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

StockNews.com initiated coverage on shares of Avangrid (NYSE:AGR) in a note issued to investors on Saturday. The brokerage set a “hold” rating on the utilities provider’s stock.

Avangrid Stock Performance

NYSE:AGR opened at $35.76 on Friday. The stock has a market cap of $13.84 billion, a P/E ratio of 15.48, a PEG ratio of 2.67 and a beta of 0.55. The company has a quick ratio of 0.44, a current ratio of 0.52 and a debt-to-equity ratio of 0.49. The business’s 50-day moving average price is $35.79 and its two-hundred day moving average price is $35.88. Avangrid has a twelve month low of $28.03 and a twelve month high of $37.70.

Avangrid (NYSE:AGR) last announced its earnings results on Tuesday, July 23rd. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.22. Avangrid had a net margin of 11.35% and a return on equity of 4.87%. The business had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same period in the previous year, the business posted $0.21 earnings per share. Avangrid’s revenue for the quarter was up 21.2% on a year-over-year basis. As a group, equities analysts predict that Avangrid will post 2.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Avangrid

Several institutional investors and hedge funds have recently made changes to their positions in the business. Natixis increased its stake in Avangrid by 3,122.3% in the 1st quarter. Natixis now owns 166,432 shares of the utilities provider’s stock worth $6,065,000 after purchasing an additional 161,267 shares during the period. Versor Investments LP purchased a new position in shares of Avangrid in the second quarter worth $5,468,000. Marshall Wace LLP raised its holdings in Avangrid by 973.5% during the 2nd quarter. Marshall Wace LLP now owns 150,602 shares of the utilities provider’s stock valued at $5,351,000 after buying an additional 136,573 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in Avangrid during the 1st quarter valued at $4,504,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Avangrid during the 1st quarter valued at $4,396,000. 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.