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

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

Avangrid Price Performance

AGR stock opened at $35.88 on Wednesday. The company has a 50 day simple moving average of $35.70 and a 200 day simple moving average of $35.67. The stock has a market cap of $13.89 billion, a price-to-earnings ratio of 15.53, a P/E/G ratio of 2.66 and a beta of 0.55. Avangrid has a 1 year low of $27.46 and a 1 year high of $37.70. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.52 and a quick ratio of 0.44.

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

Avangrid Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 2nd will be given a $0.44 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.76 annualized dividend and a yield of 4.91%. Avangrid’s dividend payout ratio (DPR) is presently 76.19%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Clean Energy Transition LLP purchased a new position in Avangrid in the 4th quarter worth about $75,620,000. Norges Bank bought a new stake in shares of Avangrid in the fourth quarter valued at about $30,303,000. Natixis grew its stake in Avangrid by 3,122.3% in the first quarter. Natixis now owns 166,432 shares of the utilities provider’s stock valued at $6,065,000 after purchasing an additional 161,267 shares during the last quarter. Versor Investments LP purchased a new stake in shares of Avangrid during the second quarter worth about $5,468,000. Finally, Hsbc Holdings PLC lifted its holdings in shares of 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 purchasing an additional 147,108 shares during the period. Hedge funds and other 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.