AGL Resources Receives “Neutral” Rating from Zacks (GAS)
AGL Resources (NYSE:GAS)‘s stock had its “neutral” rating reiterated by Zacks in a report issued on Thursday, Stock Ratings Network.com reports. They currently have a $48.00 price target on the stock. Zacks‘ target price would suggest a potential upside of 5.63% from the stock’s previous close.
Zacks‘ analyst wrote, “AGL Resources is a premier electric utility with relatively low risk earnings growth and an expanding dividend that yields a solid 4.3%. Positioned in a niche industry with high barriers to entry, this energy services holding company enjoys near-monopoly status in its area of operation. On top of this, the utility’s best-in-class cost control and recession-proof business model presents a unique opportunity to own a safe stock. Sporting a low beta – translating into less volatility and a reasonable valuation, we see AGL Resources as a core holding in the energy infrastructure space. Considering these factors, we continue to rate the utility’s shares as Neutral. “
In other AGL Resources news, CAO Bryan Seas sold 11,800 shares of AGL Resources stock on the open market in a transaction dated Monday, February 10th. The shares were sold at an average price of $45.92, for a total transaction of $541,856.00. Following the completion of the transaction, the chief accounting officer now directly owns 24,249 shares of the company’s stock, valued at approximately $1,113,514. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
A number of other firms have also recently commented on GAS. Analysts at Bank of America downgraded shares of AGL Resources from a “neutral” rating to an “underperform” rating in a research note on Friday, January 3rd. Analysts at Goldman Sachs downgraded shares of AGL Resources from a “neutral” rating to a “sell” rating in a research note on Monday, December 2nd. They now have a $43.00 price target on the stock, down previously from $44.00. Three equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. AGL Resources presently has an average rating of “Hold” and a consensus price target of $44.80.
Shares of AGL Resources (NYSE:GAS) traded up 1.08% during mid-day trading on Thursday, hitting $45.96. 235,677 shares of the company’s stock traded hands. AGL Resources has a 1-year low of $39.30 and a 1-year high of $49.31. The stock’s 50-day moving average is $46.73 and its 200-day moving average is $46.13. The company has a market cap of $5.465 billion and a price-to-earnings ratio of 17.22.
AGL Resources (NYSE:GAS) last released its earnings data on Wednesday, February 5th. The company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by $0.11. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the previous year, the company posted $0.91 earnings per share. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. Analysts expect that AGL Resources will post $2.98 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Saturday, March 1st. Stockholders of record on Friday, February 14th will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date of this dividend is Wednesday, February 12th. This is a boost from AGL Resources’s previous quarterly dividend of $0.47.
AGL Resources Inc (NYSE:GAS) is an energy services holding company whose principal business is the distribution of natural gas.
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