Avangrid (NYSE:AGR)‘s stock had its “buy” rating reaffirmed by investment analysts at Bank of America in a research note issued on Thursday, MarketBeat.com reports. They presently have a $53.00 price objective on the utilities provider’s stock, up from their previous price objective of $52.00. Bank of America’s price objective indicates a potential upside of 7.22% from the stock’s previous close.
Several other equities analysts also recently issued reports on AGR. Wells Fargo & Co reaffirmed a “market perform” rating and set a $51.00 price target (down previously from $54.00) on shares of Avangrid in a research note on Wednesday. Guggenheim set a $55.00 price target on shares of Avangrid and gave the company a “buy” rating in a research note on Thursday, February 15th. Zacks Investment Research raised shares of Avangrid from a “sell” rating to a “hold” rating in a research note on Monday, January 22nd. Goldman Sachs Group assumed coverage on shares of Avangrid in a research note on Wednesday, January 10th. They set a “buy” rating for the company. Finally, TheStreet raised shares of Avangrid from a “c” rating to a “b-” rating in a research note on Monday, December 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $50.50.
Shares of Avangrid (NYSE:AGR) traded up $0.77 during trading hours on Thursday, reaching $49.43. 74,525 shares of the company traded hands, compared to its average volume of 591,295. The company has a market cap of $15,060.92, a P/E ratio of 40.10, a price-to-earnings-growth ratio of 2.44 and a beta of 0.31. 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 has a fifty-two week low of $41.61 and a fifty-two week high of $53.46.
Avangrid (NYSE:AGR) last released its quarterly earnings results on Tuesday, February 20th. The utilities provider reported $0.61 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.61. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.50 billion. Avangrid had a net margin of 6.39% and a return on equity of 4.47%. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.67 earnings per share. equities analysts predict that Avangrid will post 2.4 earnings per share for the current fiscal year.
Large investors have recently bought and sold shares of the business. Rehmann Capital Advisory Group bought a new position in shares of Avangrid in the fourth quarter valued at $213,000. Csenge Advisory Group lifted its stake in shares of Avangrid by 24.7% in the fourth quarter. Csenge Advisory Group now owns 7,160 shares of the utilities provider’s stock valued at $362,000 after buying an additional 1,420 shares in the last quarter. Vident Investment Advisory LLC lifted its stake in shares of Avangrid by 6.5% in the fourth quarter. Vident Investment Advisory LLC now owns 59,734 shares of the utilities provider’s stock valued at $3,021,000 after buying an additional 3,641 shares in the last quarter. Raymond James & Associates lifted its stake in shares of Avangrid by 40.9% in the fourth quarter. Raymond James & Associates now owns 18,104 shares of the utilities provider’s stock valued at $916,000 after buying an additional 5,253 shares in the last quarter. Finally, Electron Capital Partners LLC lifted its stake in shares of Avangrid by 47.6% in the fourth quarter. Electron Capital Partners LLC now owns 681,513 shares of the utilities provider’s stock valued at $34,471,000 after buying an additional 219,904 shares in the last quarter. Institutional investors and hedge funds own 13.76% 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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