Stock Monitor: Chesapeake Utilities Post Earnings Reporting
LONDON, UK / ACCESSWIRE / March 06, 2018 / Active-Investors.com has just released a free research report on Avangrid, Inc. (NYSE: AGR). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=AGR as the Company's latest news hit the wire. On March 02, 2018, the Company announced that its wholly owned subsidiary, Avangrid Renewables Holdings, Inc., has completed the previously announced divestment of Enstor Energy Services, LLC ("EES"). Enstor Energy was acquired by a subsidiary of Castleton Commodities International LLC. ("CCI"). Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is currently working on the research report for Chesapeake Utilities Corporation (NYSE: CPK), which also belongs to the Utilities sector as the Company Avangrid. Do not miss out and become a member today for free to access this upcoming report at:
www.active-investors.com/registration-sg/'symbol=CPK
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Avangrid most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/'symbol=AGR
Avangrid had announced the sale of Enstor Energy via Avangrid Renewables to CCI in late January 2018. Houston, Texas-based EES handled Avangrid's gas trading business and provided structured products and hedging services. The financial terms of the deal were not disclosed. The deal did not include Avangrid's Enstor gas storage business.
Avangrid Renewables Holdings has signed a separate agreement with Amphora Gas Storage USA, LLC, an affiliate of ArcLight Capital Partners, LLC in February 2018 to sell Enstor Gas, LLC, the Company's gas storage business. The deal is expected to be completed in Q2 2018.
Commenting on the completion of the sale of EES to CCI, James P. Torgerson, CEO of Avangrid, said:
"The sale of the Enstor gas trading business to CCI is consistent with the results of our recent strategic review, and it will help AVANGRID maintain its focus on its core utility and renewables businesses as we pursue our vision of being the preferred US energy company."
Robert Ruckman, Head of CCI's US Natural Gas Trading Group, added:
"The EES acquisition increases our activities in the North American wholesale natural gas market. We are pleased to add this business to CCI's broader natural gas platform and remain focused on pursuing strategic growth opportunities through targeted principal investments."
About ENSTOR Energy Services
EES is one of the largest independent contracted storage marketers in the US and provides energy and asset management services to its customers. The customers included Gas producers, Local distribution Companies, Utilities using gas as fuel, Gas storage customers, Financial institutions, and Energy marketers. The Company's storage and transportation assets are strategically aligned to supply major market areas. The Company has extensive knowledge of local markets which enables them to provide regional expertise to customers in marketing, balancing, scheduling, and transportation management.
About Avangrid, Inc.
Orange, Connecticut-based Avangrid is a diversified energy and utility Company. Avangrid is the US affiliate of Spain-based global energy leader Iberdrola, S.A., one of the largest utilities in the world. In the US, Avangrid has two main business units - Avangrid Networks and Avangrid Renewables - which operate in 25 states from New England to the West Coast, providing electricity generation, transmission and distribution, natural gas storage and distribution, and energy services.
Avangrid Networks consists of eight electric and natural gas utilities which serves the energy needs of approximately 3.2 million customers in New York and New England. Avangrid Renewables operates more than 6 gigawatts of renewable generation capacity from wind and solar in 22 states across the US.
Avangrid Inc. has more than $32 billion in assets and employs approximately 6,800 people.
About Castleton Commodities International
Stamford, Connecticut-based CCI is a global commodity merchant with an integrated set of operations consisting of the marketing and merchandising of commodities and the ownership, operations, and development of commodities-related upstream and infrastructure assets. CCI markets a broad range of physical commodities including electric power, natural gas, natural gas liquids, refined products, crude oil, fuel oil, freight, base metals, and petrochemicals. The Company's US-based Natural Gas business transacts on approximately 100 pipelines and over 60 storage facilities to create a geographically diverse portfolio of natural gas assets. CCI's US Natural Gas business consistently ranks among the top marketers of natural gas in the US. The Company has offices in Calgary, Canada, Geneva, Switzerland, Houston, Texas, London, UK, Shanghai, China, Singapore, and Montevideo, Uruguay. The Company has more than 900 employees across four continents.
Stock Performance Snapshot
March 05, 2018 - At Monday's closing bell, Avangrid's stock rose 1.69%, ending the trading session at $48.87.
Volume traded for the day: 574.28 thousand shares, which was above the 3-month average volume of 532.37 thousand shares.
Stock performance in the last month - up 0.64%; previous six-month period - up 0.10%; and past twelve-month period - up 13.10%
After yesterday's close, Avangrid's market cap was at $15.19 billion.
Price to Earnings (P/E) ratio was at 190.16.
The stock has a dividend yield of 3.54%.
The stock is part of the Utilities sector, categorized under the Gas Utilities industry. This sector was up 1.6% at the end of the session.
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