Stock analysts at StockNews.com started covering shares of Avangrid (NYSE:AGR – Get a Free Report) in a research note issued Saturday. The brokerage has set a ‘hold’ rating on the utility’s stock.

Other stock analysts also recently released research reports on the company. Janney Montgomery Scott reiterated a “sell” rating and set a $35.00 price target on shares of Avangrid in a research note on Friday, March 8. Wells Fargo & Company lifted their price target on Avangrid from $34.00 to $35.00 and gave the company an “equalweight” rating in a research note on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat, the company currently has an average rating of ‘Hold’ and an average price target of $34.75.

View our latest stock analysis on AGR

Avangrid stock performance

Shares of AGR opened at $35.43 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.58 and a quick ratio of 0.50. The stock has a 50-day moving average of $36.22 and a 200-day moving average of $33.97. The company has a market cap of $13.71 billion, a price-to-earnings ratio of 15.34, a price-to-earnings ratio of 2.65 and a beta of 0.55. Avangrid has a one-year low of $27.46 and a one-year high of $39.14.

Avangrid (NYSE:AGR – Get Free Report) last announced its quarterly results on Wednesday, April 24. The utility reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.54 billion. Avangrid had a return on equity of 4.35% and a net margin of 10.80%. The company’s quarterly revenue fell 2.0% year over year. During the same quarter of the previous year, the company earned earnings per share of $0.64. On average, stock analysts predict that Avangrid will post earnings per share of 2.22 for the current fiscal year.

Institutional investors are considering Avangrid

A number of hedge funds have recently changed their positions in AGR. Charles Schwab Investment Management Inc. expanded its stake in Avangrid by 14.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 560,803 shares of the utility company’s stock worth $16,919,000 after purchasing an additional 71,441 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Avangrid by 26.3% in the third quarter. PNC Financial Services Group Inc. now owns 8,858 shares of the utility company’s stock, valued at $267,000, after purchasing an additional 1,843 shares in the last quarter. QRG Capital Management Inc. bought a new position in Avangrid in the third quarter worth approximately $207,000. Aigen Investment Management LP grew its position in shares of Avangrid by 124.3% during the third quarter. Aigen Investment Management LP now owns 13,085 shares of the utility company’s stock valued at $395,000 after purchasing an additional 7,251 shares in the last quarter. Finally, Hsbc Holdings PLC increased its position in Avangrid shares by 1.4% in the third quarter. Hsbc Holdings PLC now owns 225,985 shares of the utility’s stock valued at $6,818,000 after purchasing an additional 3,172 shares in the last quarter. Institutional investors own 13.12% of the company’s shares.

About Avangrid

(Get a free report)

Avangrid, Inc, an energy services holding company, engages in regulated energy transmission and distribution and renewable energy generation in the United States. The company operates through the Networks and Renewable Energy segments. It is involved in the generation, transmission and distribution of electricity; and distribution, transportation and sale of natural gas.

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