Avangrid, Inc. (NYSE:AGR – Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $32.08, but opened at $35.80. Avangrid shares last traded at $36.02, with a volume of 1,099,527 shares.
Analysts Set New Price Targets
Several equities analysts have issued reports on AGR shares. Mizuho boosted their price objective on shares of Avangrid from $33.00 to $34.00 and gave the company a “neutral” rating in a research note on Wednesday, January 3rd. StockNews.com raised Avangrid from a “sell” rating to a “hold” rating in a report on Friday, February 23rd. Finally, Wells Fargo & Company raised their target price on Avangrid from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Friday, February 23rd. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $34.67.
Avangrid Stock Performance
The stock has a market cap of $13.97 billion, a price-to-earnings ratio of 17.74, a price-to-earnings-growth ratio of 3.85 and a beta of 0.54. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.65 and a quick ratio of 0.56. The stock’s 50-day moving average is $31.62 and its 200-day moving average is $31.86.
Avangrid (NYSE:AGR – Get Free Report) last released its earnings results on Thursday, February 22nd. The utilities provider reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.03. The firm had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.40 billion. Avangrid had a return on equity of 3.92% and a net margin of 9.46%. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.39 earnings per share. Analysts anticipate that Avangrid, Inc. will post 2.27 EPS for the current fiscal year.
Avangrid Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 1st will be paid a dividend of $0.44 per share. The ex-dividend date is Thursday, February 29th. This represents a $1.76 annualized dividend and a yield of 4.87%. Avangrid’s dividend payout ratio is presently 86.70%.
Institutional Investors Weigh In On Avangrid
Several institutional investors have recently bought and sold shares of AGR. Cetera Advisor Networks LLC purchased a new stake in shares of Avangrid in the first quarter worth about $214,000. Citigroup Inc. raised its stake in shares of Avangrid by 208.4% during the first quarter. Citigroup Inc. now owns 12,951 shares of the utilities provider’s stock valued at $605,000 after purchasing an additional 8,751 shares during the period. Bank of Montreal Can boosted its stake in shares of Avangrid by 90.5% in the first quarter. Bank of Montreal Can now owns 21,626 shares of the utilities provider’s stock valued at $1,012,000 after purchasing an additional 10,271 shares during the period. MetLife Investment Management LLC acquired a new stake in Avangrid during the 1st quarter valued at $53,000. Finally, Rhumbline Advisers grew its holdings in Avangrid by 4.6% during the 1st quarter. Rhumbline Advisers now owns 47,510 shares of the utilities provider’s stock valued at $2,221,000 after purchasing an additional 2,072 shares in the last quarter. 12.93% of the stock is currently owned by hedge funds and other institutional investors.
Avangrid Company Profile
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 in two segments: Networks and Renewables. It is involved in the generation, transmission, and distribution of electricity; and distribution, transportation, and sale of natural gas.