StockNews.com upgraded shares of Avangrid (NYSE:AGR – Get Rating) from a hold rating to a buy rating in a research note issued to investors on Thursday.
Other equities analysts also recently issued reports about the company. Siebert Williams Shank initiated coverage on Avangrid in a research report on Thursday, June 9th. They set a buy rating and a $57.00 price objective for the company. Barclays cut their target price on Avangrid from $51.00 to $48.00 and set an equal weight rating for the company in a research report on Monday, July 18th. Wells Fargo & Company upped their target price on Avangrid from $50.00 to $52.00 and gave the stock an equal weight rating in a research report on Monday, September 19th. TheStreet upgraded Avangrid from a c+ rating to a b rating in a research report on Tuesday, August 9th. Finally, Mizuho upped their target price on Avangrid from $42.00 to $47.00 and gave the stock an underperform rating in a research report on Monday, September 12th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $49.00.
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Avangrid Stock Performance
Shares of AGR stock opened at $42.32 on Thursday. The company has a quick ratio of 0.77, a current ratio of 0.89 and a debt-to-equity ratio of 0.39. The business has a 50 day moving average of $48.82 and a two-hundred day moving average of $47.07. Avangrid has a 52 week low of $42.20 and a 52 week high of $53.95. The company has a market cap of $16.36 billion, a P/E ratio of 18.09, a PEG ratio of 3.26 and a beta of 0.34.
Avangrid (NYSE:AGR – Get Rating) last issued its quarterly earnings data on Tuesday, July 26th. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.13. The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.60 billion. Avangrid had a return on equity of 4.65% and a net
margin of 12.12%. During the same period in the previous year, the firm posted $0.35 earnings per share. As a group, analysts anticipate that Avangrid will post 2.27 EPS for the current year.
Avangrid Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 2nd will be issued a $0.44 dividend. The ex-dividend date is Thursday, September 1st. This represents a $1.76 annualized dividend and a dividend yield of 4.16%. Avangrid's dividend payout ratio is currently 75.21%.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Avangrid by 1.9% in the first quarter. Vanguard Group Inc. now owns 7,367,079 shares of the utilities provider's stock valued at $344,338,000 after buying an additional 138,243 shares in the last quarter. State Street Corp increased its holdings in shares of Avangrid by 16.6% in the second quarter. State Street Corp now owns 1,799,203 shares of the utilities provider's stock valued at $83,661,000 after buying an additional 255,851 shares in the last quarter. First Trust Advisors LP raised its stake in Avangrid by 8.4% during the 1st quarter. First Trust Advisors LP now owns 1,548,082 shares of the utilities provider's stock valued at $72,357,000 after purchasing an additional 119,518 shares during the period. Geode Capital Management LLC raised its stake in Avangrid by 4.9% during the 4th quarter. Geode Capital Management LLC now owns 816,762 shares of the utilities provider's stock valued at $40,740,000 after purchasing an additional 38,242 shares during the period. Finally, FMR LLC raised its stake in Avangrid by 14,052.3% during the 2nd quarter. FMR LLC now owns 783,049 shares of the utilities provider's stock valued at $36,114,000 after purchasing an additional 777,516 shares during the period. Institutional investors own 12.49% of the company's stock.
Avangrid Company Profile
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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.
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