Avangrid (NYSE:AGR) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Avangrid (NYSE:AGRGet Rating) from a hold rating to a buy rating in a research note released on Monday morning.

Several other brokerages also recently weighed in on AGR. KeyCorp downgraded Avangrid from a sector weight rating to an underweight rating and set a $40.00 target price on the stock. in a research note on Monday, June 27th. They noted that the move was a valuation call. Barclays cut their target price on Avangrid from $51.00 to $48.00 and set an equal weight rating on the stock in a research note on Monday, July 18th. Finally, Siebert Williams Shank started coverage on Avangrid in a research note on Thursday, June 9th. They set a buy rating and a $57.00 target price on the stock. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Avangrid has an average rating of Hold and an average price target of $47.00.

Avangrid Trading Up 0.2 %

Shares of NYSE AGR opened at $48.82 on Monday. The company has a market cap of $18.87 billion, a price-to-earnings ratio of 20.86, a price-to-earnings-growth ratio of 3.67 and a beta of 0.35. Avangrid has a 12-month low of $42.20 and a 12-month high of $55.57. The company has a current ratio of 0.89, a quick ratio of 0.77 and a debt-to-equity ratio of 0.39. The stock’s 50 day simple moving average is $46.21 and its 200 day simple moving average is $45.91.

Avangrid (NYSE:AGRGet Rating) last announced its quarterly earnings results on Tuesday, July 26th. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.13. Avangrid had a return on equity of 4.65% and a net margin of 12.12%. During the same period in the prior year, the business posted $0.35 EPS. Equities research analysts expect that Avangrid will post 2.25 EPS for the current year.

Avangrid Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 2nd will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend is Thursday, September 1st. Avangrid’s dividend payout ratio (DPR) is presently 75.21%.

Hedge Funds Weigh In On Avangrid

Hedge funds have recently modified their holdings of the stock. CWM LLC grew its holdings in shares of Avangrid by 385.0% in the 2nd quarter. CWM LLC now owns 645 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 512 shares during the last quarter. Wahed Invest LLC acquired a new position in shares of Avangrid in the 4th quarter worth $34,000. Covestor Ltd acquired a new position in shares of Avangrid in the 4th quarter worth $41,000. GW&K Investment Management LLC acquired a new position in shares of Avangrid in the 1st quarter worth $42,000. Finally, Lazard Asset Management LLC grew its holdings in shares of Avangrid by 264.5% in the 4th quarter. Lazard Asset Management LLC now owns 915 shares of the utilities provider’s stock worth $44,000 after acquiring an additional 664 shares during the last quarter. 11.44% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Avangrid (NYSE:AGR)

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