Avangrid, Inc. (NYSE:AGR) Given Consensus Rating of “Reduce” by Analysts

Shares of Avangrid, Inc. (NYSE:AGR) have been given a consensus rating of “Reduce” by the four research firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating and three have issued a hold rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $34.75.

Several equities research analysts have recently weighed in on AGR shares. StockNews.com raised Avangrid from a “sell” rating to a “hold” rating in a report on Friday, February 23rd. Wells Fargo & Company boosted their target price on Avangrid from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Friday, February 23rd. Mizuho lifted their price objective on shares of Avangrid from $33.00 to $34.00 and gave the company a “neutral” rating in a research report on Wednesday, January 3rd. Finally, Janney Montgomery Scott restated a “sell” rating and set a $35.00 price objective on shares of Avangrid in a research report on Friday, March 8th.

Avangrid Trading Down 0.7 %

AGR opened at $35.69 on Wednesday. The company has a quick ratio of 0.56, a current ratio of 0.65 and a debt-to-equity ratio of 0.48. Avangrid has a 52 week low of $27.46 and a 52 week high of $41.22. The business’s 50 day moving average is $33.94 and its two-hundred day moving average is $32.27. The firm has a market cap of $13.80 billion, a price-to-earnings ratio of 17.58, a price-to-earnings-growth ratio of 2.65 and a beta of 0.56.

Avangrid (NYSE:AGR) last announced its earnings results on Thursday, February 22nd. The utilities provider reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. The business had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.40 billion. Avangrid had a net margin of 9.46% and a return on equity of 3.92%. The company’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.39 EPS. On average, research analysts predict that Avangrid will post 2.25 EPS for the current year.

Avangrid Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a $0.44 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.93%. Avangrid’s dividend payout ratio (DPR) is presently 86.70%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Avangrid by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 7,669,811 shares of the utilities provider’s stock valued at $319,831,000 after acquiring an additional 72,761 shares during the period. BlackRock Inc. raised its holdings in Avangrid by 5.9% during the second quarter. BlackRock Inc. now owns 6,436,151 shares of the utilities provider’s stock worth $242,514,000 after purchasing an additional 361,132 shares during the last quarter. Royal Bank of Canada boosted its position in Avangrid by 1.2% during the second quarter. Royal Bank of Canada now owns 3,782,118 shares of the utilities provider’s stock worth $142,510,000 after purchasing an additional 44,075 shares in the last quarter. Clean Energy Transition LLP acquired a new stake in Avangrid in the fourth quarter valued at $75,620,000. Finally, First Trust Advisors LP increased its position in shares of Avangrid by 11.4% in the first quarter. First Trust Advisors LP now owns 2,266,881 shares of the utilities provider’s stock valued at $90,403,000 after buying an additional 231,836 shares in the last quarter. Hedge funds and other 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.