Avangrid, Inc. (NYSE:AGR) Receives $34.75 Consensus PT from Analysts

Avangrid, Inc. (NYSE:AGR) has been assigned a consensus rating of “Reduce” from the four ratings firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $34.75.

Several equities analysts have recently issued reports on the company. Wells Fargo & Company lifted their price objective on Avangrid from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note on Friday, February 23rd. Janney Montgomery Scott restated a “sell” rating and set a $35.00 target price on shares of Avangrid in a research note on Friday, March 8th. Finally, StockNews.com upgraded Avangrid from a “sell” rating to a “hold” rating in a research note on Friday, February 23rd.

Avangrid Stock Performance

Shares of AGR opened at $36.78 on Friday. The stock has a 50-day simple moving average of $35.59 and a 200-day simple moving average of $32.95. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.50 and a current ratio of 0.58. The stock has a market capitalization of $14.23 billion, a PE ratio of 15.92, a PEG ratio of 2.74 and a beta of 0.55. Avangrid has a 1 year low of $27.46 and a 1 year high of $41.22.

Avangrid (NYSE:AGR) last announced its quarterly earnings data on Wednesday, April 24th. The utilities provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.18. The business had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.54 billion. Avangrid had a return on equity of 4.35% and a net margin of 10.80%. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.64 EPS. On average, analysts predict that Avangrid will post 2.23 earnings per share for the current fiscal year.

Avangrid Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 4.79%. The ex-dividend date is Monday, June 3rd. Avangrid’s dividend payout ratio is currently 76.19%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Robeco Institutional Asset Management B.V. raised its position in Avangrid by 2,285.5% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 96,754 shares of the utilities provider’s stock worth $31,000 after buying an additional 92,698 shares during the last quarter. Central Pacific Bank Trust Division purchased a new position in Avangrid during the first quarter worth about $36,000. Lindbrook Capital LLC lifted its position in Avangrid by 132.5% in the third quarter. Lindbrook Capital LLC now owns 1,258 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 717 shares during the period. BKM Wealth Management LLC purchased a new stake in Avangrid in the 4th quarter valued at approximately $41,000. Finally, Quent Capital LLC increased its position in Avangrid by 31.0% during the 1st quarter. Quent Capital LLC now owns 1,486 shares of the utilities provider’s stock worth $54,000 after purchasing an additional 352 shares during the period. 13.12% of the stock is owned by hedge funds and other institutional investors.

About Avangrid

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.