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

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

Separately, Janney Montgomery Scott reissued a sell rating and issued a $35.00 target price on shares of Avangrid in a research report on Friday, March 8th. One analyst has rated the stock with a sell rating and three have assigned a hold rating to the stock. According to data from MarketBeat.com, Avangrid currently has an average rating of Hold and an average price target of $34.67.

Avangrid Trading Up 0.2 %

Shares of NYSE AGR opened at $35.35 on Monday. The firm’s 50 day moving average price is $36.02 and its 200-day moving average price is $34.26. Avangrid has a 52-week low of $27.46 and a 52-week high of $39.13. 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 company has a market cap of $13.68 billion, a PE ratio of 15.30, a P/E/G ratio of 2.67 and a beta of 0.55.

Avangrid (NYSE:AGR) last announced its quarterly earnings data on Wednesday, April 24th. The utilities provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. Avangrid had a net margin of 10.80% and a return on equity of 4.35%. The company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.54 billion. During the same period in the previous year, the business earned $0.64 EPS. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, equities research analysts expect that Avangrid will post 2.22 EPS for the current fiscal year.

Avangrid Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were paid a $0.44 dividend. The ex-dividend date was Monday, June 3rd. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.98%. Avangrid’s dividend payout ratio (DPR) is currently 76.19%.

Institutional Trading of Avangrid

Several large investors have recently modified their holdings of AGR. Clean Energy Transition LLP bought a new stake in shares of Avangrid during the 4th quarter valued at about $75,620,000. Mackenzie Financial Corp grew 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 valued at $62,140,000 after buying an additional 326,084 shares during the period. Norges Bank purchased a new stake in Avangrid during the fourth quarter valued at approximately $30,303,000. Charles Schwab Investment Management Inc. raised its position in Avangrid by 8.6% in 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 boosted its stake in shares of Avangrid by 65.1% during the 4th 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 last quarter. 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.