Goldman Sachs Group assumed coverage on shares of Avangrid (NYSE:AGR) in a research note published on Wednesday, January 10th, MarketBeat.com reports. The firm issued a buy rating on the utilities provider’s stock.
Several other analysts have also recently commented on the company. Zacks Investment Research cut Avangrid from a hold rating to a sell rating in a report on Tuesday, December 26th. TheStreet upgraded Avangrid from a c rating to a b- rating in a report on Monday, December 18th. Wells Fargo & Co cut Avangrid from an outperform rating to a market perform rating in a report on Wednesday, November 1st. Bank of America began coverage on Avangrid in a report on Tuesday, October 24th. They issued a buy rating and a $52.00 price target for the company. Finally, JPMorgan Chase & Co. lifted their price objective on Avangrid from $43.00 to $47.00 and gave the company an underweight rating in a research note on Thursday, October 12th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. Avangrid has an average rating of Hold and a consensus target price of $48.63.
Avangrid (NYSE:AGR) traded up $0.11 during trading on Wednesday, reaching $48.42. The company had a trading volume of 440,949 shares, compared to its average volume of 532,982. The stock has a market cap of $14,960.00 and a PE ratio of 22.52. Avangrid has a 1 year low of $37.42 and a 1 year high of $53.46. The company has a current ratio of 0.69, a quick ratio of 0.56 and a debt-to-equity ratio of 0.31.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Monday, December 11th were paid a $0.432 dividend. This represents a $1.73 annualized dividend and a dividend yield of 3.57%. The ex-dividend date of this dividend was Friday, December 8th. Avangrid’s dividend payout ratio is currently 80.47%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in AGR. Vanguard Group Inc. lifted its position in Avangrid by 3.5% during the 2nd quarter. Vanguard Group Inc. now owns 5,324,114 shares of the utilities provider’s stock worth $235,061,000 after acquiring an additional 181,812 shares in the last quarter. Royal Bank of Canada lifted its position in Avangrid by 3.3% during the 2nd quarter. Royal Bank of Canada now owns 3,191,802 shares of the utilities provider’s stock worth $140,919,000 after acquiring an additional 103,007 shares in the last quarter. State Street Corp lifted its position in Avangrid by 2.7% during the 2nd quarter. State Street Corp now owns 723,255 shares of the utilities provider’s stock worth $31,934,000 after acquiring an additional 19,047 shares in the last quarter. Wells Fargo & Company MN lifted its position in Avangrid by 255.3% during the 3rd quarter. Wells Fargo & Company MN now owns 689,384 shares of the utilities provider’s stock worth $32,692,000 after acquiring an additional 495,371 shares in the last quarter. Finally, Baillie Gifford & Co. lifted its position in Avangrid by 34.8% during the 3rd quarter. Baillie Gifford & Co. now owns 482,360 shares of the utilities provider’s stock worth $22,874,000 after acquiring an additional 124,571 shares in the last quarter. 13.83% of the stock is currently owned by institutional investors and hedge funds.
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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