Avangrid Inc. (AGR) Given Consensus Rating of “Hold” by Brokerages
Avangrid Inc. (NYSE:AGR) has been assigned a consensus recommendation of “Hold” from the eight brokerages that are presently covering the stock. Two analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $40.67.
A number of research firms recently issued reports on AGR. Zacks Investment Research lowered Avangrid from a “buy” rating to a “hold” rating in a research report on Tuesday, June 28th. Guggenheim began coverage on Avangrid in a research report on Thursday, September 8th. They set a “neutral” rating for the company. Finally, JPMorgan Chase & Co. lowered Avangrid from a “neutral” rating to an “underweight” rating and reduced their price objective for the company from $44.00 to $41.00 in a research report on Friday, September 23rd.
A number of hedge funds and other institutional investors have recently made changes to their positions in AGR. Wellington Management Group LLP raised its position in shares of Avangrid by 62.4% in the first quarter. Wellington Management Group LLP now owns 6,416,315 shares of the company’s stock worth $257,357,000 after buying an additional 2,465,504 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in shares of Avangrid by 191.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,245,771 shares of the company’s stock worth $49,968,000 after buying an additional 818,822 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in shares of Avangrid during the second quarter worth about $36,027,000. Ecofin Ltd. raised its position in shares of Avangrid by 352.1% in the second quarter. Ecofin Ltd. now owns 750,880 shares of the company’s stock worth $34,586,000 after buying an additional 584,792 shares during the period. Finally, FMR LLC raised its position in shares of Avangrid by 18.7% in the second quarter. FMR LLC now owns 3,514,802 shares of the company’s stock worth $161,892,000 after buying an additional 554,440 shares during the period. Institutional investors own 13.06% of the company’s stock.
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Shares of Avangrid (NYSE:AGR) traded up 1.20% during midday trading on Thursday, hitting $40.38. The company had a trading volume of 166,917 shares. The stock’s 50-day moving average price is $41.66 and its 200-day moving average price is $42.24. Avangrid has a 12 month low of $32.45 and a 12 month high of $46.74. The company has a market cap of $12.48 billion and a price-to-earnings ratio of 24.65.
Avangrid (NYSE:AGR) last issued its quarterly earnings results on Monday, July 18th. The company reported $0.32 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.43 by $0.11. Avangrid had a net margin of 8.74% and a return on equity of 3.07%. On average, equities research analysts forecast that Avangrid will post $2.12 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Friday, September 9th were given a dividend of $0.432 per share. The ex-dividend date was Wednesday, September 7th. This represents a $1.73 dividend on an annualized basis and a yield of 4.33%.
Avangrid, Inc is a diversified energy and utility company with more than $30 billion in assets and operations in 25 states. The company operates regulated utilities and electricity generation through two primary lines of business. Avangrid Networks includes eight electric and natural gas utilities, serving approximately 3.1 million customers in New York and New England.
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