Avangrid Inc. (AGR) Receives Consensus Recommendation of “Hold” from Analysts
Shares of Avangrid Inc. (NYSE:AGR) have received an average rating of “Hold” from the eight ratings firms that are presently covering the stock. Two equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $40.67.
Several equities research analysts have recently weighed in on AGR shares. Guggenheim started coverage on Avangrid in a research note on Thursday, September 8th. They issued a “neutral” rating on the stock. Zacks Investment Research lowered Avangrid from a “hold” rating to a “sell” rating in a research note on Thursday, July 21st. Finally, JPMorgan Chase & Co. lowered Avangrid from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $44.00 to $41.00 in a research note on Friday, September 23rd.
Hedge funds and other institutional investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company purchased a new position in Avangrid during the third quarter valued at about $36,150,000. Massachusetts Financial Services Co. MA purchased a new position in Avangrid during the second quarter valued at about $36,027,000. Ecofin Ltd. increased its position in Avangrid by 352.1% in the second quarter. Ecofin Ltd. now owns 750,880 shares of the company’s stock valued at $34,586,000 after buying an additional 584,792 shares in the last quarter. FMR LLC increased its position in Avangrid by 18.7% in the second quarter. FMR LLC now owns 3,514,802 shares of the company’s stock valued at $161,892,000 after buying an additional 554,440 shares in the last quarter. Finally, Royal Bank of Canada increased its position in Avangrid by 29.0% in the first quarter. Royal Bank of Canada now owns 2,291,419 shares of the company’s stock valued at $91,909,000 after buying an additional 514,602 shares in the last quarter. 13.22% of the stock is currently owned by institutional investors and hedge funds.
Shares of Avangrid (NYSE:AGR) traded up 0.46% during trading on Thursday, hitting $37.24. The stock had a trading volume of 128,358 shares. Avangrid has a 52 week low of $32.45 and a 52 week high of $46.74. The stock has a market capitalization of $11.51 billion and a price-to-earnings ratio of 21.44. The stock’s 50 day moving average is $39.32 and its 200 day moving average is $42.17.
Avangrid (NYSE:AGR) last released its quarterly earnings data on Tuesday, October 25th. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.59 by $0.24. Avangrid had a net margin of 9.14% and a return on equity of 3.32%. The company earned $1.42 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the prior year, the company posted $0.25 earnings per share. The company’s revenue for the quarter was up 35.3% on a year-over-year basis. On average, equities research analysts expect that Avangrid will post $1.98 earnings per share for the current fiscal year.
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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