Avangrid (NYSE:AGR) Now Covered by Analysts at StockNews.com

StockNews.com began coverage on shares of Avangrid (NYSE:AGR) in a research note issued to investors on Monday. The firm issued a hold rating on the utilities provider’s stock.

Separately, Janney Montgomery Scott restated a sell rating and issued a $35.00 price objective on shares of Avangrid in a report on Friday, March 8th. One research analyst has rated the stock with a sell rating and three have assigned a hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $34.67.

Avangrid Stock Performance

NYSE AGR opened at $35.44 on Monday. The business’s 50-day moving average price is $36.08 and its 200 day moving average price is $34.23. Avangrid has a twelve month low of $27.46 and a twelve month high of $39.13. The company has a market capitalization of $13.71 billion, a PE ratio of 15.34, a price-to-earnings-growth ratio of 2.67 and a beta of 0.55. The company has a current ratio of 0.58, a quick ratio of 0.50 and a debt-to-equity ratio of 0.47.

Avangrid (NYSE:AGR) last released its earnings results on Wednesday, April 24th. The utilities provider reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.18. Avangrid had a return on equity of 4.35% and a net margin of 10.80%. The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same period in the prior year, the business posted $0.64 earnings per share. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, research analysts predict that Avangrid will post 2.22 earnings per share for the current year.

Avangrid Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were paid a $0.44 dividend. The ex-dividend date was Monday, June 3rd. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.97%. Avangrid’s dividend payout ratio (DPR) is currently 76.19%.

Institutional Investors Weigh In On Avangrid

Large investors have recently modified their holdings of the stock. Headlands Technologies LLC acquired a new stake in Avangrid during the 1st quarter valued at approximately $26,000. Bell Investment Advisors Inc grew its stake in Avangrid by 163.9% during the 1st quarter. Bell Investment Advisors Inc now owns 863 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 536 shares in the last quarter. Central Pacific Bank Trust Division acquired a new stake in Avangrid during the 1st quarter valued at approximately $36,000. Toronto Dominion Bank acquired a new stake in Avangrid during the 1st quarter valued at approximately $41,000. Finally, BKM Wealth Management LLC acquired a new stake in Avangrid during the 4th quarter valued at approximately $41,000. Institutional investors and hedge funds 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.