Shares of Avangrid, Inc. (NYSE:AGR – Get Rating) have been given a consensus recommendation of “Hold” by the seven analysts that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $48.50.
A number of brokerages have recently weighed in on AGR. StockNews.com began coverage on Avangrid in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research upgraded Avangrid from a “sell” rating to a “hold” rating and set a $48.00 target price on the stock in a research report on Tuesday, January 25th. Janney Montgomery Scott lowered Avangrid from a “buy” rating to a “neutral” rating in a research report on Thursday, February 24th. Mizuho dropped their target price on Avangrid from $47.00 to $42.00 and set an “underperform” rating on the stock in a research report on Thursday, February 24th. Finally, Wells Fargo & Company lowered Avangrid from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $60.00 to $48.00 in a research report on Wednesday, February 23rd.
A number of large investors have recently made changes to their positions in the business. Amplius Wealth Advisors LLC acquired a new position in shares of Avangrid during the 4th quarter worth approximately $28,000. Concord Wealth Partners raised its stake in shares of Avangrid by 66.4% during the 4th quarter. Concord Wealth Partners now owns 664 shares of the utilities provider’s stock worth $33,000 after buying an additional 265 shares during the period. Wahed Invest LLC acquired a new position in shares of Avangrid during the 4th quarter worth approximately $34,000. Covestor Ltd acquired a new position in shares of Avangrid during the 4th quarter worth approximately $41,000. Finally, GW&K Investment Management LLC purchased a new stake in shares of Avangrid during the first quarter worth approximately $42,000. 11.44% of the stock is owned by institutional investors.
Avangrid (NYSE:AGR – Get Rating) last issued its quarterly earnings results on Tuesday, April 26th. The utilities provider reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.16. Avangrid had a return on equity of 4.40% and a net margin of 11.45%. During the same quarter last year, the business earned $1.14 EPS. On average, equities analysts expect that Avangrid will post 2.25 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Friday, June 3rd will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date is Thursday, June 2nd. Avangrid’s payout ratio is presently 82.24%.
Avangrid Company Profile (Get Rating)
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.
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