Avangrid Inc (NYSE:AGR) Given Consensus Rating of “Hold” by Analysts

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Avangrid Inc (NYSE:AGR) has been given an average recommendation of “Hold” by the twelve ratings firms that are presently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $51.43.

AGR has been the subject of several research reports. Janney Montgomery Scott lowered shares of Avangrid from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $50.00 to $46.00 in a research report on Thursday, April 25th. Zacks Investment Research upgraded shares of Avangrid from a “sell” rating to a “hold” rating in a report on Monday, April 29th. Macquarie cut shares of Avangrid from an “outperform” rating to a “neutral” rating and set a $49.50 target price for the company. in a report on Monday, March 4th. Bank of America cut shares of Avangrid from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $53.00 to $52.50 in a report on Thursday, April 25th. Finally, ValuEngine upgraded shares of Avangrid from a “hold” rating to a “buy” rating in a report on Friday, June 7th.

Shares of NYSE:AGR traded up $0.64 during trading hours on Friday, hitting $51.37. 11,927 shares of the company’s stock traded hands, compared to its average volume of 454,845. Avangrid has a 52 week low of $45.81 and a 52 week high of $54.18. The company has a current ratio of 0.63, a quick ratio of 0.57 and a debt-to-equity ratio of 0.36. The firm has a market cap of $15.85 billion, a price-to-earnings ratio of 23.24, a price-to-earnings-growth ratio of 2.87 and a beta of 0.12.

Avangrid (NYSE:AGR) last posted its quarterly earnings data on Wednesday, April 24th. The utilities provider reported $0.71 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.80 by ($0.09). Avangrid had a net margin of 8.80% and a return on equity of 4.27%. The business had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter last year, the business posted $0.78 EPS. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, research analysts forecast that Avangrid will post 2.27 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 3.43%. The ex-dividend date of this dividend is Thursday, June 6th. Avangrid’s payout ratio is 79.64%.

Several institutional investors and hedge funds have recently made changes to their positions in the business. FNY Investment Advisers LLC purchased a new stake in shares of Avangrid in the first quarter worth approximately $25,000. Essex Savings Bank purchased a new stake in shares of Avangrid in the fourth quarter worth approximately $30,000. ERTS Wealth Advisors LLC purchased a new stake in shares of Avangrid in the fourth quarter worth approximately $34,000. Tyers Asset Management LLC purchased a new stake in shares of Avangrid in the first quarter worth approximately $43,000. Finally, Bremer Trust National Association purchased a new stake in shares of Avangrid in the fourth quarter worth approximately $49,000. Institutional investors own 14.41% of the company’s stock.

About Avangrid

Avangrid, Inc operates as an energy services holding company in the United States. It operates through two segments, Networks and Renewables. The company engages in the generation, transmission, and distribution of electricity, as well as distribution, transportation, and sale of natural gas. It also develops, constructs, and operates renewable energy generation facilities primarily using onshore wind power, as well as solar, biomass, and thermal power.

Further Reading: Sell-Side Analysts

Analyst Recommendations for Avangrid (NYSE:AGR)

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