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

Equities research analysts at StockNews.com started coverage on shares of Avangrid (NYSE:AGRGet Free Report) in a note issued to investors on Tuesday. The firm set a “hold” rating on the utilities provider’s stock.

Avangrid Stock Performance

NYSE AGR opened at $35.27 on Tuesday. The firm has a 50-day moving average of $35.86 and a 200-day moving average of $34.37. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.50 and a current ratio of 0.58. The stock has a market cap of $13.65 billion, a PE ratio of 15.27, a P/E/G ratio of 2.65 and a beta of 0.55. Avangrid has a 52-week low of $27.46 and a 52-week high of $39.13.

Avangrid (NYSE:AGRGet Free Report) last posted its earnings results on Wednesday, April 24th. The utilities provider reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. The company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.54 billion. Avangrid had a net margin of 10.80% and a return on equity of 4.35%. Avangrid’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.64 EPS. On average, sell-side analysts anticipate that Avangrid will post 2.22 EPS for the current year.

Hedge Funds Weigh In On Avangrid

A number of hedge funds have recently bought and sold shares of the business. Clean Energy Transition LLP bought a new position in Avangrid during the fourth quarter worth about $75,620,000. Mackenzie Financial Corp increased its position in Avangrid by 20.5% during the fourth quarter. Mackenzie Financial Corp now owns 1,917,324 shares of the utilities provider’s stock worth $62,140,000 after acquiring an additional 326,084 shares during the period. Norges Bank bought a new position in Avangrid during the fourth quarter worth about $30,303,000. Charles Schwab Investment Management Inc. increased its position in Avangrid by 8.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 608,977 shares of the utilities provider’s stock worth $19,737,000 after acquiring an additional 48,174 shares during the period. 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. 13.12% of the stock is owned by institutional investors.

About Avangrid

(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.

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