StockNews.com assumed coverage on shares of Avangrid (NYSE:AGR – Free Report) in a research report report published on Monday. The brokerage issued a hold rating on the utilities provider’s stock.
Separately, Janney Montgomery Scott reissued a sell rating and set a $35.00 price objective on shares of Avangrid in a research report on Friday, March 8th. One equities research analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to MarketBeat, Avangrid presently has a consensus rating of Hold and a consensus target price of $34.67.
Check Out Our Latest Report on AGR
Avangrid Trading Down 0.3 %
NYSE AGR traded down $0.09 during trading on Monday, hitting $35.44. The stock had a trading volume of 473,116 shares, compared to its average volume of 876,979. The company has a market capitalization of $13.71 billion, a PE ratio of 15.34, a PEG ratio of 2.67 and a beta of 0.55. The company has a quick ratio of 0.50, a current ratio of 0.58 and a debt-to-equity ratio of 0.47. The firm has a 50 day moving average price of $36.08 and a 200 day moving average price of $34.23. Avangrid has a twelve month low of $27.46 and a twelve month high of $39.13.
Avangrid (NYSE:AGR – Get Free Report) last released its earnings results on Wednesday, April 24th. The utilities provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.18. The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.54 billion. Avangrid had a return on equity of 4.35% and a net margin of 10.80%. Avangrid’s revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.64 EPS. As a group, equities research analysts forecast that Avangrid will post 2.22 earnings per share for the current year.
Avangrid Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.97%. The ex-dividend date of this dividend is Monday, June 3rd. Avangrid’s dividend payout ratio is presently 76.19%.
Institutional Investors Weigh In On Avangrid
Several institutional investors have recently added to or reduced their stakes in AGR. PNC Financial Services Group Inc. lifted its stake in Avangrid by 26.3% during the third quarter. PNC Financial Services Group Inc. now owns 8,858 shares of the utilities provider’s stock worth $267,000 after purchasing an additional 1,843 shares during the last quarter. Schonfeld Strategic Advisors LLC lifted its stake in Avangrid by 110.5% during the third quarter. Schonfeld Strategic Advisors LLC now owns 170,700 shares of the utilities provider’s stock worth $5,150,000 after purchasing an additional 89,600 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in Avangrid by 71.4% during the third quarter. Advisors Asset Management Inc. now owns 152,462 shares of the utilities provider’s stock worth $4,600,000 after purchasing an additional 63,529 shares during the last quarter. Evergreen Capital Management LLC purchased a new stake in Avangrid during the third quarter worth approximately $290,000. Finally, Royal London Asset Management Ltd. lifted its stake in Avangrid by 3.5% during the third quarter. Royal London Asset Management Ltd. now owns 27,090 shares of the utilities provider’s stock worth $817,000 after purchasing an additional 915 shares during the last quarter. Hedge funds and other institutional investors own 13.12% of the company’s stock.
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 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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