ValuEngine upgraded shares of Avangrid (NYSE:AGR) from a hold rating to a buy rating in a research note issued to investors on Wednesday.
Several other brokerages also recently issued reports on AGR. TheStreet downgraded Avangrid from a b rating to a c+ rating in a research report on Thursday, October 4th. Zacks Investment Research upgraded Avangrid from a sell rating to a hold rating in a research report on Friday, August 31st. Wells Fargo & Co lifted their price objective on Avangrid from $54.00 to $55.00 and gave the company a market perform rating in a research report on Monday, September 17th. Goldman Sachs Group downgraded Avangrid from a buy rating to a neutral rating and set a $50.00 price objective for the company. in a research report on Sunday, October 28th. Finally, Citigroup cut their price objective on Avangrid from $59.00 to $57.00 and set a buy rating for the company in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $53.78.
Avangrid stock opened at $52.08 on Wednesday. The company has a quick ratio of 0.59, a current ratio of 0.67 and a debt-to-equity ratio of 0.33. The company has a market cap of $16.01 billion, a P/E ratio of 23.03, a P/E/G ratio of 2.62 and a beta of 0.16. Avangrid has a one year low of $45.17 and a one year high of $54.55.
Avangrid (NYSE:AGR) last posted its earnings results on Tuesday, October 23rd. The utilities provider reported $0.45 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.01). The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.32 billion. Avangrid had a return on equity of 4.55% and a net margin of 6.29%. Avangrid’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.40 EPS. On average, equities research analysts forecast that Avangrid will post 2.27 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Tuesday, December 11th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Monday, December 10th. This represents a $1.76 annualized dividend and a dividend yield of 3.38%. Avangrid’s dividend payout ratio (DPR) is currently 80.00%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in AGR. Jennison Associates LLC increased its stake in shares of Avangrid by 49.6% in the 3rd quarter. Jennison Associates LLC now owns 1,223,203 shares of the utilities provider’s stock valued at $58,628,000 after buying an additional 405,680 shares during the period. Millennium Management LLC acquired a new stake in shares of Avangrid in the 2nd quarter valued at $18,368,000. Renaissance Technologies LLC increased its stake in shares of Avangrid by 75.1% in the 2nd quarter. Renaissance Technologies LLC now owns 743,800 shares of the utilities provider’s stock valued at $39,369,000 after buying an additional 318,900 shares during the period. AQR Capital Management LLC increased its stake in shares of Avangrid by 180.8% in the 3rd quarter. AQR Capital Management LLC now owns 354,495 shares of the utilities provider’s stock valued at $16,991,000 after buying an additional 228,244 shares during the period. Finally, Rehmann Capital Advisory Group increased its stake in shares of Avangrid by 4,696.1% in the 3rd quarter. Rehmann Capital Advisory Group now owns 204,603 shares of the utilities provider’s stock valued at $4,268,000 after buying an additional 200,337 shares during the period. 14.20% of the stock is owned by institutional investors.
Avangrid Company Profile
Avangrid, Inc operates as an energy services holding company in the United States. It engages in the generation, transmission, and distribution of electricity, as well as distribution, transportation, and sale of natural gas. The company also develops, constructs, and operates renewable energy generation facilities primarily using onshore wind power, as well as solar, biomass, and thermal power.
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