StockNews.com Begins Coverage on Avangrid (NYSE:AGR)

StockNews.com began coverage on shares of Avangrid (NYSE:AGR) in a research report report published on Friday. The brokerage issued a hold rating on the utilities provider’s stock.

Avangrid Stock Up 0.0 %

Shares of Avangrid stock opened at $35.76 on Friday. Avangrid has a 1 year low of $27.46 and a 1 year high of $37.70. The company has a market cap of $13.84 billion, a P/E ratio of 15.48, a P/E/G ratio of 2.67 and a beta of 0.55. The company has a current ratio of 0.52, a quick ratio of 0.44 and a debt-to-equity ratio of 0.49. The stock has a 50-day moving average price of $35.76 and a 200 day moving average price of $35.87.

Avangrid (NYSE:AGR) last posted its quarterly earnings results on Tuesday, July 23rd. The utilities provider reported $0.49 EPS for the quarter, topping the consensus estimate of $0.27 by $0.22. The business had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Avangrid had a net margin of 11.35% and a return on equity of 4.87%. The firm’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same period last year, the company posted $0.21 earnings per share. As a group, analysts expect that Avangrid will post 2.24 EPS for the current fiscal year.

Avangrid Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 2nd will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.76 dividend on an annualized basis and a yield of 4.92%. Avangrid’s payout ratio is 76.19%.

Institutional Investors Weigh In On Avangrid

Large investors have recently made changes to their positions in the company. Clean Energy Transition LLP acquired a new stake in Avangrid in the fourth quarter valued at approximately $75,620,000. Norges Bank bought a new stake in shares of Avangrid in the fourth quarter valued at approximately $30,303,000. Natixis grew its stake in shares of Avangrid by 3,122.3% in the first quarter. Natixis now owns 166,432 shares of the utilities provider’s stock worth $6,065,000 after acquiring an additional 161,267 shares during the last quarter. Versor Investments LP acquired a new stake in shares of Avangrid in the second quarter worth $5,468,000. Finally, Hsbc Holdings PLC increased its position in Avangrid by 65.1% during the fourth quarter. Hsbc Holdings PLC now owns 373,093 shares of the utilities provider’s stock worth $12,088,000 after acquiring an additional 147,108 shares during the period. Institutional investors 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.