StockNews.com upgraded shares of Avangrid (NYSE:AGR – Get Rating) from a hold rating to a buy rating in a report published on Thursday morning.
A number of other research analysts have also recently commented on AGR. Siebert Williams Shank initiated coverage on shares of Avangrid in a research report on Thursday, June 9th. They set a buy rating and a $57.00 price target on the stock. KeyCorp increased their price target on shares of Avangrid from $40.00 to $41.00 and gave the company an underweight rating in a research report on Friday, September 23rd. TheStreet upgraded shares of Avangrid from a c+ rating to a b rating in a research report on Tuesday, August 9th. Barclays reduced their price target on shares of Avangrid from $51.00 to $48.00 and set an equal weight rating on the stock in a research report on Monday, July 18th. Finally, Wells Fargo & Company increased their price target on shares of Avangrid from $50.00 to $52.00 and gave the company an equal weight rating in a research report on Monday, September 19th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Avangrid currently has an average rating of Hold and a consensus price target of $49.00.
Get Avangrid alerts:Avangrid Trading Down 1.5 %
Shares of Avangrid stock opened at $41.70 on Thursday. Avangrid has a 12-month low of $41.60 and a 12-month high of $53.95. The company has a market cap of $16.12 billion, a price-to-earnings ratio of 17.82, a PEG ratio of 3.16 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. The company's 50-day moving average price is $48.74 and its 200-day moving average price is $47.08.
Avangrid (NYSE:AGR – Get Rating) last announced its quarterly earnings results on Tuesday, July 26th. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.13. Avangrid had a net margin of 12.12% and a return on equity of 4.65%. The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same period in the prior year, the firm posted $0.35 earnings per share. On average, equities analysts expect that Avangrid will post 2.27 earnings per share for the current fiscal year.Avangrid Announces Dividend
The company also recently disclosed 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. This represents a $1.76 annualized dividend and a yield of 4.22%. The ex-dividend date of this dividend is Thursday, September 1st. Avangrid's dividend payout ratio is currently 75.21%.
Hedge Funds Weigh In On Avangrid
Several institutional investors and hedge funds have recently added to or reduced their stakes in AGR. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Avangrid by 2.3% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 50,895 shares of the utilities provider's stock valued at $2,379,000 after acquiring an additional 1,126 shares in the last quarter. Mystic Asset Management Inc. bought a new position in shares of Avangrid during the fourth quarter valued at $293,000. Shikiar Asset Management Inc. increased its holdings in shares of Avangrid by 9.7% during the first quarter. Shikiar Asset Management Inc. now owns 27,650 shares of the utilities provider's stock valued at $1,292,000 after acquiring an additional 2,450 shares in the last quarter. Titleist Asset Management LTD. bought a new position in shares of Avangrid during the fourth quarter valued at $450,000. Finally, Sciencast Management LP bought a new position in shares of Avangrid during the first quarter valued at $315,000. Hedge funds and other 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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