Avangrid (NYSE:AGR) Earns Hold Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Avangrid (NYSE:AGR) in a research report sent to investors on Tuesday. The brokerage issued a hold rating on the utilities provider’s stock.

Avangrid Trading Down 0.3 %

NYSE:AGR opened at $35.59 on Tuesday. The stock has a fifty day simple moving average of $35.75 and a 200 day simple moving average of $35.84. The firm has a market capitalization of $13.77 billion, a price-to-earnings ratio of 12.23, a price-to-earnings-growth ratio of 2.54 and a beta of 0.55. Avangrid has a 1-year low of $29.33 and a 1-year high of $37.70. The company has a quick ratio of 0.44, a current ratio of 0.51 and a debt-to-equity ratio of 0.52.

Avangrid (NYSE:AGR) last announced its earnings results on Tuesday, October 22nd. The utilities provider reported $0.55 EPS for the quarter, topping the consensus estimate of $0.33 by $0.22. Avangrid had a net margin of 12.89% and a return on equity of 5.37%. The company had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.04 billion. During the same period last year, the company posted $0.27 earnings per share. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. Sell-side analysts forecast that Avangrid will post 2.34 earnings per share for the current year.

Avangrid Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, December 2nd will be given a $0.44 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.76 annualized dividend and a dividend yield of 4.95%. Avangrid’s dividend payout ratio (DPR) is presently 60.48%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AGR. Gamco Investors INC. ET AL grew its stake in Avangrid by 2.1% during the 1st quarter. Gamco Investors INC. ET AL now owns 359,807 shares of the utilities provider’s stock valued at $13,111,000 after acquiring an additional 7,370 shares in the last quarter. Millennium Management LLC grew its position in Avangrid by 34.7% during the second quarter. Millennium Management LLC now owns 308,134 shares of the utilities provider’s stock valued at $10,948,000 after purchasing an additional 79,463 shares in the last quarter. Gabelli Funds LLC increased its stake in Avangrid by 26.1% in the 2nd quarter. Gabelli Funds LLC now owns 297,474 shares of the utilities provider’s stock valued at $10,569,000 after buying an additional 61,574 shares during the period. Advisors Asset Management Inc. lifted its position in Avangrid by 14.0% in the 1st quarter. Advisors Asset Management Inc. now owns 262,918 shares of the utilities provider’s stock worth $9,581,000 after buying an additional 32,223 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Avangrid by 26.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 256,980 shares of the utilities provider’s stock valued at $9,130,000 after buying an additional 54,469 shares during the period. 13.12% of the stock is owned by institutional investors and hedge funds.

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.