Avangrid Inc (NYSE:AGR) Director Alan D. Solomont bought 189 shares of the stock in a transaction that occurred on Monday, July 2nd. The stock was acquired at an average cost of $53.14 per share, for a total transaction of $10,043.46. Following the purchase, the director now owns 2,642 shares of the company’s stock, valued at $140,395.88. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Avangrid opened at $53.67 on Friday, according to Marketbeat.com. The company has a current ratio of 0.73, a quick ratio of 0.66 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $16.47 billion, a P/E ratio of 23.69, a price-to-earnings-growth ratio of 2.45 and a beta of 0.17. Avangrid Inc has a twelve month low of $43.13 and a twelve month high of $54.55.
Avangrid (NYSE:AGR) last issued its quarterly earnings data on Monday, April 23rd. The utilities provider reported $0.78 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.79 by ($0.01). The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.73 billion. Avangrid had a return on equity of 4.59% and a net margin of 6.36%. Avangrid’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.77 earnings per share. research analysts anticipate that Avangrid Inc will post 2.38 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 2nd. Shareholders of record on Friday, June 8th were paid a dividend of $0.432 per share. The ex-dividend date was Thursday, June 7th. This represents a $1.73 annualized dividend and a yield of 3.22%. Avangrid’s dividend payout ratio is 78.64%.
A number of institutional investors have recently modified their holdings of the business. Brasada Capital Management LP grew its stake in Avangrid by 2.4% during the first quarter. Brasada Capital Management LP now owns 106,960 shares of the utilities provider’s stock worth $5,468,000 after buying an additional 2,503 shares during the last quarter. Allianz Asset Management GmbH grew its stake in shares of Avangrid by 88.6% during the first quarter. Allianz Asset Management GmbH now owns 662,675 shares of the utilities provider’s stock valued at $33,876,000 after purchasing an additional 311,374 shares during the last quarter. Royal Bank of Canada grew its stake in shares of Avangrid by 2.3% during the first quarter. Royal Bank of Canada now owns 3,289,725 shares of the utilities provider’s stock valued at $168,170,000 after purchasing an additional 72,633 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Avangrid by 1.8% during the first quarter. Legal & General Group Plc now owns 300,051 shares of the utilities provider’s stock valued at $15,339,000 after purchasing an additional 5,386 shares during the last quarter. Finally, Robecosam AG grew its stake in shares of Avangrid by 18.7% during the first quarter. Robecosam AG now owns 213,376 shares of the utilities provider’s stock valued at $10,908,000 after purchasing an additional 33,685 shares during the last quarter. 14.19% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts recently weighed in on the stock. Zacks Investment Research raised shares of Avangrid from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research note on Wednesday, June 27th. ValuEngine raised shares of Avangrid from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Bank of America upped their target price on shares of Avangrid from $53.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, April 12th. Janney Montgomery Scott reissued a “buy” rating and issued a $55.00 target price on shares of Avangrid in a research note on Wednesday, April 25th. Finally, JPMorgan Chase & Co. upped their target price on shares of Avangrid from $44.00 to $46.00 and gave the company an “underweight” rating in a research note on Tuesday, April 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $52.94.
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. As of December 31, 2017, the company delivered electricity to approximately 2.2 million electric utility customers, as well as natural gas to approximately 1 million natural gas public utility customers; and owned approximately 67.5 billion cubic feet of net working gas storage capacity.
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