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

StockNews.com assumed coverage on shares of Avangrid (NYSE:AGR) in a research note released on Tuesday. The firm issued a hold rating on the utilities provider’s stock.

Avangrid Price Performance

Shares of NYSE AGR opened at $36.02 on Tuesday. The company has a current ratio of 0.51, a quick ratio of 0.44 and a debt-to-equity ratio of 0.52. The stock has a market cap of $13.94 billion, a P/E ratio of 12.38, a P/E/G ratio of 2.54 and a beta of 0.56. The stock has a 50 day moving average of $35.80 and a two-hundred day moving average of $35.69. Avangrid has a twelve month low of $29.71 and a twelve month high of $37.70.

Avangrid (NYSE:AGR) last released its quarterly earnings results on Tuesday, October 22nd. The utilities provider reported $0.55 EPS for the quarter, beating 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 firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.04 billion. During the same quarter in the prior year, the firm earned $0.27 EPS. Avangrid’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, research analysts forecast that Avangrid will post 2.34 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of AGR. Brooklyn Investment Group purchased a new stake in Avangrid in the 3rd quarter valued at approximately $25,000. Blue Trust Inc. lifted its holdings in shares of Avangrid by 244.9% in the 3rd quarter. Blue Trust Inc. now owns 807 shares of the utilities provider’s stock valued at $29,000 after buying an additional 573 shares during the period. Eastern Bank purchased a new stake in shares of Avangrid in the third quarter valued at approximately $30,000. Quarry LP acquired a new position in Avangrid during the third quarter worth $47,000. Finally, Venturi Wealth Management LLC raised its position in Avangrid by 1,939.7% in the third quarter. Venturi Wealth Management LLC now owns 2,978 shares of the utilities provider’s stock worth $107,000 after acquiring an additional 2,832 shares in the last quarter. Institutional investors and hedge funds own 13.12% of the company’s stock.

About Avangrid

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.