Avangrid Inc. (AGR) Given Consensus Rating of “Hold” by Brokerages
Shares of Avangrid Inc. (NYSE:AGR) have earned an average rating of “Hold” from the eight analysts that are presently covering the firm. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $40.67.
A number of research firms recently weighed in on AGR. Zacks Investment Research lowered shares of Avangrid from a “buy” rating to a “hold” rating in a research note on Tuesday, June 28th. JPMorgan Chase & Co. downgraded Avangrid from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $44.00 to $41.00 in a report on Friday, September 23rd. Finally, Guggenheim began coverage on Avangrid in a report on Thursday, September 8th. They issued a “neutral” rating for the company.
Shares of Avangrid (NYSE:AGR) traded up 1.20% on Thursday, reaching $40.38. 166,917 shares of the company’s stock traded hands. Avangrid has a 52 week low of $32.45 and a 52 week high of $46.74. The firm has a market capitalization of $12.48 billion and a P/E ratio of 24.65. The firm’s 50 day moving average is $41.66 and its 200 day moving average is $42.24.
Avangrid (NYSE:AGR) last released its 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 return on equity of 3.07% and a net margin of 8.74%. Analysts expect that Avangrid will post $2.12 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Friday, September 9th were issued a $0.432 dividend. This represents a $1.73 annualized dividend and a dividend yield of 4.33%. The ex-dividend date of this dividend was Wednesday, September 7th.
Large investors have recently bought and sold shares of the stock. Nuveen Asset Management LLC increased its stake in Avangrid by 55.9% in the first quarter. Nuveen Asset Management LLC now owns 199,763 shares of the company’s stock valued at $8,012,000 after buying an additional 71,642 shares during the last quarter. Wellington Management Group LLP increased its stake in Avangrid by 62.4% in the first quarter. Wellington Management Group LLP now owns 6,416,315 shares of the company’s stock valued at $257,357,000 after buying an additional 2,465,504 shares during the last quarter. Geode Capital Management LLC increased its stake in Avangrid by 497.9% in the first quarter. Geode Capital Management LLC now owns 430,154 shares of the company’s stock valued at $17,253,000 after buying an additional 358,212 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in Avangrid during the first quarter valued at $772,000. Finally, OMERS ADMINISTRATION Corp purchased a new stake in Avangrid during the first quarter valued at $690,000. 13.06% of the stock is owned by institutional investors and hedge funds.
Avangrid Company Profile
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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