Avangrid, Inc. (AGR) Sets New 1-Year High at $52.42
Avangrid, Inc. (NYSE:AGR) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $52.42 and last traded at $51.21, with a volume of 454400 shares changing hands. The stock had previously closed at $50.56.
A number of research firms recently commented on AGR. Wells Fargo & Company cut Avangrid from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 1st. Zacks Investment Research upgraded Avangrid from a “sell” rating to a “hold” rating in a report on Thursday, October 26th. Bank of America Corporation began coverage on Avangrid in a report on Tuesday, October 24th. They issued a “buy” rating and a $52.00 price objective on the stock. J P Morgan Chase & Co upped their price objective on Avangrid from $43.00 to $47.00 and gave the company an “underweight” rating in a report on Thursday, October 12th. Finally, Evercore ISI upgraded Avangrid from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $43.50 to $46.50 in a report on Monday, July 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. Avangrid has an average rating of “Hold” and a consensus target price of $47.50.
The firm has a market capitalization of $15,623.31, a price-to-earnings ratio of 22.37, a P/E/G ratio of 2.75 and a beta of 0.55. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.56 and a current ratio of 0.69.
Avangrid (NYSE:AGR) last released its quarterly earnings results on Tuesday, October 24th. The utilities provider reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.03. Avangrid had a return on equity of 4.60% and a net margin of 11.23%. The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the prior year, the firm earned $0.35 earnings per share. The firm’s revenue was down 5.4% compared to the same quarter last year. sell-side analysts forecast that Avangrid, Inc. will post 2.22 earnings per share for the current fiscal year.
Large investors have recently added to or reduced their stakes in the business. Proficio Capital Partners LLC lifted its stake in Avangrid by 102.2% during the second quarter. Proficio Capital Partners LLC now owns 2,704 shares of the utilities provider’s stock worth $124,000 after purchasing an additional 1,367 shares in the last quarter. Ffcm LLC acquired a new position in Avangrid during the third quarter worth $134,000. First Personal Financial Services lifted its stake in Avangrid by 3.4% during the second quarter. First Personal Financial Services now owns 2,862 shares of the utilities provider’s stock worth $126,000 after purchasing an additional 94 shares in the last quarter. Parallel Advisors LLC lifted its stake in Avangrid by 20.1% during the second quarter. Parallel Advisors LLC now owns 3,265 shares of the utilities provider’s stock worth $148,000 after purchasing an additional 546 shares in the last quarter. Finally, McKinley Carter Wealth Services Inc. acquired a new position in Avangrid during the third quarter worth $207,000. Institutional investors own 13.30% of the company’s stock.
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Avangrid, Inc is an energy and utility company. The Company operates through three segments: Networks, Renewables and Gas. The Networks segment includes all the energy transmission and distribution activities, and any other regulated activity originating in New York and Maine, and regulated electric distribution, electric transmission and gas distribution activities originating in Connecticut and Massachusetts.
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