Avangrid (NYSE:AGR) Research Coverage Started at StockNews.com

Equities researchers at StockNews.com assumed coverage on shares of Avangrid (NYSE:AGRGet Free Report) in a report released on Tuesday. The firm set a “hold” rating on the utilities provider’s stock.

Avangrid Price Performance

AGR opened at $35.29 on Tuesday. The stock has a market cap of $13.65 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 2.65 and a beta of 0.55. Avangrid has a 1 year low of $27.46 and a 1 year high of $39.13. The company has a current ratio of 0.58, a quick ratio of 0.50 and a debt-to-equity ratio of 0.47. The stock has a fifty day moving average price of $35.91 and a 200 day moving average price of $34.34.

Avangrid (NYSE:AGRGet Free Report) last released its quarterly earnings data on Wednesday, April 24th. The utilities provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. Avangrid had a return on equity of 4.35% and a net margin of 10.80%. The firm had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter last year, the firm earned $0.64 earnings per share. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. Analysts forecast that Avangrid will post 2.22 EPS for the current fiscal year.

Institutional Trading of Avangrid

A number of institutional investors and hedge funds have recently made changes to their positions in AGR. ING Groep NV acquired a new position in shares of Avangrid during the 4th quarter worth about $1,027,000. Handelsbanken Fonder AB acquired a new position in shares of Avangrid during the 4th quarter worth about $4,195,000. Robeco Institutional Asset Management B.V. lifted its position in shares of Avangrid by 2,285.5% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 96,754 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 92,698 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Avangrid by 179.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 157,984 shares of the utilities provider’s stock valued at $5,120,000 after acquiring an additional 101,543 shares during the period. Finally, International Assets Investment Management LLC bought a new position in Avangrid during the fourth quarter valued at about $1,583,000. Institutional investors and hedge funds own 13.12% of the company’s stock.

Avangrid Company Profile

(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.

Further Reading

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