Avangrid Inc (NYSE:AGR) Receives $51.17 Consensus Price Target from Brokerages

Avangrid Inc (NYSE:AGR) has been assigned an average rating of “Hold” from the eleven ratings firms that are currently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $51.17.

A number of equities research analysts have issued reports on the company. Zacks Investment Research upgraded Avangrid from a “sell” rating to a “hold” rating in a research note on Thursday, July 4th. ValuEngine cut Avangrid from a “buy” rating to a “hold” rating in a research note on Thursday, June 27th. Goldman Sachs Group upgraded Avangrid from a “sell” rating to a “neutral” rating and raised their target price for the company from $46.00 to $47.00 in a research note on Monday, April 8th. Bank of America cut Avangrid from a “neutral” rating to an “underperform” rating and cut their target price for the company from $53.00 to $52.50 in a research note on Thursday, April 25th. Finally, KeyCorp assumed coverage on Avangrid in a research note on Tuesday, June 4th. They issued a “sector weight” rating on the stock.

In related news, Director Teresa A. Herbert acquired 1,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were acquired at an average cost of $48.95 per share, for a total transaction of $48,950.00. Following the completion of the purchase, the director now directly owns 1,000 shares in the company, valued at $48,950. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.37% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of AGR. Advisor Group Inc. raised its stake in shares of Avangrid by 155.4% during the fourth quarter. Advisor Group Inc. now owns 4,677 shares of the utilities provider’s stock valued at $234,000 after purchasing an additional 2,846 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in shares of Avangrid by 3.0% during the fourth quarter. Great West Life Assurance Co. Can now owns 11,123 shares of the utilities provider’s stock valued at $534,000 after purchasing an additional 323 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Avangrid by 2.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 254,916 shares of the utilities provider’s stock valued at $12,768,000 after purchasing an additional 6,973 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of Avangrid during the fourth quarter valued at about $224,000. Finally, Cetera Investment Advisers raised its stake in shares of Avangrid by 12.1% during the fourth quarter. Cetera Investment Advisers now owns 5,070 shares of the utilities provider’s stock valued at $254,000 after purchasing an additional 549 shares in the last quarter. Institutional investors and hedge funds own 14.47% of the company’s stock.

AGR stock traded down $0.85 during mid-day trading on Friday, reaching $50.17. The company had a trading volume of 473,599 shares, compared to its average volume of 507,717. The company has a quick ratio of 0.57, a current ratio of 0.63 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $15.50 billion, a PE ratio of 22.70, a P/E/G ratio of 2.98 and a beta of 0.12. Avangrid has a one year low of $45.81 and a one year high of $53.47. The business has a 50-day moving average price of $50.40.

Avangrid (NYSE:AGR) last posted its earnings results on Tuesday, July 23rd. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.38 billion. Avangrid had a net margin of 8.85% and a return on equity of 4.09%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.41 earnings per share. As a group, research analysts predict that Avangrid will post 2.26 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend is Thursday, September 5th. Avangrid’s dividend payout ratio is currently 79.64%.

Avangrid Company Profile

Avangrid, Inc operates as an energy services holding company in the United States. It operates through two segments, Networks and Renewables. The company engages in the generation, transmission, and distribution of electricity, as well as distribution, transportation, and sale of natural gas. It also develops, constructs, and operates renewable energy generation facilities primarily using onshore wind power, as well as solar, biomass, and thermal power.

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Analyst Recommendations for Avangrid (NYSE:AGR)

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