Shares of Avangrid, Inc. (NYSE:AGR – Get Rating) have been given an average rating of “Hold” by the eight brokerages that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $47.00.
A number of analysts recently weighed in on the company. KeyCorp downgraded Avangrid from a “sector weight” rating to an “underweight” rating and set a $40.00 price target on the stock. in a research note on Monday, June 27th. They noted that the move was a valuation call. Siebert Williams Shank assumed coverage on Avangrid in a research note on Thursday, June 9th. They issued a “buy” rating and a $57.00 price target on the stock. Barclays decreased their price target on Avangrid from $51.00 to $48.00 and set an “equal weight” rating on the stock in a research note on Monday, July 18th. TheStreet upgraded Avangrid from a “c+” rating to a “b” rating in a research note on Tuesday, August 9th. Finally, StockNews.com upgraded Avangrid from a “hold” rating to a “buy” rating in a research note on Monday, August 1st.
Hedge Funds Weigh In On Avangrid
A number of institutional investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Avangrid by 9.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,363 shares of the utilities provider’s stock worth $108,000 after acquiring an additional 201 shares during the last quarter. Cetera Advisor Networks LLC raised its holdings in shares of Avangrid by 4.7% in the second quarter. Cetera Advisor Networks LLC now owns 4,787 shares of the utilities provider’s stock worth $221,000 after acquiring an additional 215 shares during the last quarter. Csenge Advisory Group raised its holdings in shares of Avangrid by 1.7% in the fourth quarter. Csenge Advisory Group now owns 13,753 shares of the utilities provider’s stock worth $708,000 after acquiring an additional 228 shares during the last quarter. First Pacific Financial raised its holdings in shares of Avangrid by 2.4% in the first quarter. First Pacific Financial now owns 11,186 shares of the utilities provider’s stock worth $523,000 after acquiring an additional 266 shares during the last quarter. Finally, Cetera Investment Advisers raised its holdings in shares of Avangrid by 1.9% in the first quarter. Cetera Investment Advisers now owns 15,024 shares of the utilities provider’s stock worth $702,000 after acquiring an additional 276 shares during the last quarter. 12.49% of the stock is owned by institutional investors and hedge funds.
Avangrid Trading Up 0.4 %
Shares of AGR stock opened at $49.65 on Friday. The business’s 50 day moving average is $48.32 and its two-hundred day moving average is $46.83. Avangrid has a twelve month low of $42.20 and a twelve month high of $53.95. The company has a market capitalization of $19.20 billion, a P/E ratio of 21.22, a price-to-earnings-growth ratio of 3.66 and a beta of 0.34. The company has a current ratio of 0.89, a quick ratio of 0.77 and a debt-to-equity ratio of 0.39.
Avangrid (NYSE:AGR – Get Rating) last announced its earnings results on Tuesday, July 26th. The utilities provider reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.13. Avangrid had a return on equity of 4.65% and a net margin of 12.12%. The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same period last year, the business posted $0.35 EPS. Equities analysts forecast that Avangrid will post 2.29 EPS for the current year.
Avangrid Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 2nd will be given a dividend of $0.44 per share. The ex-dividend date is Thursday, September 1st. This represents a $1.76 dividend on an annualized basis and a yield of 3.54%. Avangrid’s payout ratio is 75.21%.
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.