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

by · The Cerbat Gem

StockNews.com started coverage on shares of Avangrid (NYSE:AGR – Free Report) in a research note released on Friday. The brokerage issued a hold rating on the utilities provider’s stock.

Avangrid Price Performance

AGR stock opened at $35.79 on Friday. The stock has a 50-day simple moving average of $35.77 and a 200-day simple moving average of $35.87. The firm has a market cap of $13.85 billion, a P/E ratio of 15.49, a price-to-earnings-growth ratio of 2.67 and a beta of 0.55. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.44 and a current ratio of 0.52. Avangrid has a 1 year low of $27.46 and a 1 year high of $37.70.

Avangrid (NYSE:AGR – Get Free Report) last announced its earnings results on Tuesday, July 23rd. The utilities provider reported $0.49 earnings per share 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 the consensus estimate of $1.72 billion. During the same period in the prior year, the firm earned $0.21 earnings per share. The business’s quarterly revenue was up 21.2% compared to the same quarter last year. On average, equities analysts predict that Avangrid will post 2.24 earnings per share for the current fiscal year.

Avangrid Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 4.92%. The ex-dividend date of this dividend is Monday, December 2nd. Avangrid’s dividend payout ratio (DPR) is presently 76.19%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC acquired a new position in shares of Avangrid during the first quarter worth approximately $26,000. Bell Investment Advisors Inc boosted its stake in shares of Avangrid by 163.9% during the 1st quarter. Bell Investment Advisors Inc now owns 863 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 536 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in shares of Avangrid in the 1st quarter worth $36,000. Toronto Dominion Bank acquired a new stake in shares of Avangrid during the first quarter worth $41,000. Finally, Quent Capital LLC raised its holdings in Avangrid by 31.0% during the 1st quarter. Quent Capital LLC now owns 1,486 shares of the utilities provider’s stock worth $54,000 after buying an additional 352 shares during the period. Institutional investors and hedge funds own 13.12% of the company’s stock.

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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