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

Research analysts at StockNews.com started coverage on shares of Avangrid (NYSE:AGR) in a research report issued on Monday. The firm set a “hold” rating on the utilities provider’s stock.

Avangrid Price Performance

Shares of NYSE:AGR opened at $35.72 on Monday. The stock has a market cap of $13.82 billion, a PE ratio of 15.46, a PEG ratio of 2.66 and a beta of 0.55. The company’s fifty day moving average is $35.78 and its 200 day moving average is $35.85. Avangrid has a 52 week low of $28.75 and a 52 week high of $37.70. The company has a quick ratio of 0.44, a current ratio of 0.52 and a debt-to-equity ratio of 0.49.

Avangrid (NYSE:AGR) last issued its earnings results on Tuesday, October 22nd. The utilities provider reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.18. The company had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.04 billion. Avangrid had a net margin of 11.35% and a return on equity of 4.87%. The firm’s revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.27 EPS. Research analysts anticipate that Avangrid will post 2.24 earnings per share for the current year.

Hedge Funds Weigh In On Avangrid

A number of hedge funds have recently modified their holdings of the company. Eastern Bank purchased a new position in shares of Avangrid in the third quarter valued at about $30,000. Signaturefd LLC increased its position in shares of Avangrid by 1.8% in the third quarter. Signaturefd LLC now owns 16,301 shares of the utilities provider’s stock valued at $583,000 after acquiring an additional 290 shares during the period. Blue Trust Inc. increased its position in shares of Avangrid by 244.9% in the third quarter. Blue Trust Inc. now owns 807 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 573 shares during the period. Creative Planning increased its position in shares of Avangrid by 17.4% in the third quarter. Creative Planning now owns 37,986 shares of the utilities provider’s stock valued at $1,360,000 after acquiring an additional 5,618 shares during the period. Finally, CWM LLC increased its position in shares of Avangrid by 28.3% in the third quarter. CWM LLC now owns 5,820 shares of the utilities provider’s stock valued at $208,000 after acquiring an additional 1,283 shares during the period. 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.