Avangrid (NYSE:AGR) Sees Unusually-High Trading Volume

Shares of Avangrid, Inc. (NYSE:AGR) saw an uptick in trading volume on Monday . 590,050 shares changed hands during mid-day trading, a decline of 34% from the previous session’s volume of 897,270 shares.The stock last traded at $35.83 and had previously closed at $35.84.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AGR. Janney Montgomery Scott reiterated a “sell” rating and issued a $35.00 target price on shares of Avangrid in a research note on Friday, March 8th. Wells Fargo & Company boosted their price objective on shares of Avangrid from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Friday, February 23rd. Finally, StockNews.com raised shares of Avangrid from a “sell” rating to a “hold” rating in a report on Friday, February 23rd. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $34.75.

Avangrid Trading Down 0.2 %

The company has a debt-to-equity ratio of 0.47, a current ratio of 0.58 and a quick ratio of 0.50. The stock’s 50-day moving average is $36.28 and its two-hundred day moving average is $33.41. The stock has a market cap of $13.92 billion, a P/E ratio of 15.58, a price-to-earnings-growth ratio of 2.69 and a beta of 0.55.

Avangrid (NYSE:AGR) last issued its earnings results on Wednesday, April 24th. The utilities provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. Avangrid had a net margin of 10.80% and a return on equity of 4.35%. The firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.54 billion. During the same quarter in the prior year, the business earned $0.64 earnings per share. Avangrid’s revenue for the quarter was down 2.0% on a year-over-year basis. Equities research analysts anticipate that Avangrid, Inc. will post 2.23 EPS for the current year.

Avangrid Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be given a dividend of $0.44 per share. The ex-dividend date is Monday, June 3rd. This represents a $1.76 annualized dividend and a yield of 4.89%. Avangrid’s dividend payout ratio (DPR) is currently 76.19%.

Hedge Funds Weigh In On Avangrid

Institutional investors have recently bought and sold shares of the business. Handelsbanken Fonder AB bought a new position in Avangrid during the fourth quarter valued at $4,195,000. Assenagon Asset Management S.A. lifted its holdings in shares of Avangrid by 179.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 157,984 shares of the utilities provider’s stock worth $5,120,000 after acquiring an additional 101,543 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Avangrid in the 4th quarter worth about $1,583,000. Jump Financial LLC lifted its holdings in shares of Avangrid by 134.0% in the 4th quarter. Jump Financial LLC now owns 119,198 shares of the utilities provider’s stock worth $3,863,000 after acquiring an additional 68,268 shares during the last quarter. Finally, Gamco Investors INC. ET AL lifted its holdings in shares of Avangrid by 10.7% in the 3rd quarter. Gamco Investors INC. ET AL now owns 411,508 shares of the utilities provider’s stock worth $12,415,000 after acquiring an additional 39,937 shares during the last quarter. 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.