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

Analysts at StockNews.com initiated coverage on shares of Avangrid (NYSE:AGR – Get Free Report) in a research report issued to clients and investors on Tuesday. The brokerage set a “hold” rating on the utilities provider’s stock.

Avangrid Stock Performance

Shares of AGR traded up $0.04 during trading hours on Tuesday, hitting $35.33. The stock had a trading volume of 2,622,087 shares, compared to its average volume of 883,349. Avangrid has a fifty-two week low of $27.46 and a fifty-two week high of $39.13. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.50 and a current ratio of 0.58. The firm has a market capitalization of $13.67 billion, a price-to-earnings ratio of 15.30, a PEG ratio of 2.65 and a beta of 0.55. The firm has a 50-day moving average price of $35.91 and a 200 day moving average price of $34.34.

Avangrid (NYSE:AGR – Get Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The utilities provider reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. The business had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.54 billion. Avangrid had a return on equity of 4.35% and a net margin of 10.80%. The business’s revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.64 earnings per share. As a group, research analysts anticipate that Avangrid will post 2.22 EPS for the current year.

Institutional Investors Weigh In On Avangrid

A number of hedge funds have recently modified their holdings of AGR. Headlands Technologies LLC purchased a new position in shares of Avangrid during the 1st quarter worth $26,000. Bell Investment Advisors Inc raised its stake in Avangrid by 163.9% during the first quarter. Bell Investment Advisors Inc now owns 863 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 536 shares during the period. Central Pacific Bank Trust Division purchased a new position in Avangrid during the first quarter worth about $36,000. Toronto Dominion Bank acquired a new position in Avangrid in the 1st quarter valued at about $41,000. Finally, BKM Wealth Management LLC purchased a new stake in shares of Avangrid in the 4th quarter valued at approximately $41,000. 13.12% of the stock is currently owned by institutional investors and hedge funds.

About Avangrid

(Get Free Report)

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.

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