Avangrid, Inc. (NYSE:AGR) has earned an average recommendation of “Hold” from the seven brokerages that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $54.80.
A number of equities analysts have weighed in on AGR shares. Mizuho boosted their target price on Avangrid from $51.00 to $53.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 24th. Zacks Investment Research raised Avangrid from a “sell” rating to a “hold” rating in a research report on Monday, August 2nd.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in AGR. Deseret Mutual Benefit Administrators purchased a new stake in shares of Avangrid during the 2nd quarter valued at about $27,000. SRS Capital Advisors Inc. purchased a new stake in shares of Avangrid during the 2nd quarter valued at about $29,000. Bessemer Group Inc. purchased a new stake in shares of Avangrid during the 1st quarter valued at about $30,000. Eaton Vance Management purchased a new stake in shares of Avangrid during the 1st quarter valued at about $33,000. Finally, Advisory Services Network LLC purchased a new stake in shares of Avangrid during the 2nd quarter valued at about $35,000. 10.69% of the stock is owned by hedge funds and other institutional investors.
Avangrid (NYSE:AGR) last announced its quarterly earnings results on Monday, July 19th. The utilities provider reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.07). The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.50 billion. Avangrid had a return on equity of 4.54% and a net margin of 10.41%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.32 EPS. On average, equities research analysts anticipate that Avangrid will post 2.18 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 1st. Shareholders of record on Friday, September 3rd will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date is Thursday, September 2nd. Avangrid’s dividend payout ratio (DPR) is 87.13%.
Avangrid, Inc engages in the energy transmission and gas distribution. It operates through the following segments: Networks, Renewables, and Other. The Networks segment includes energy transmission and distribution, electric transmission, and gas distribution activities. The Renewables segment relating to renewable energy, mainly wind energy generation and trading related with such activities.
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