Avangrid, Inc. (NYSE:AGR) Receives $34.75 Average Price Target from Analysts

Avangrid, Inc. (NYSE:AGR) has been given a consensus rating of “Reduce” by the four ratings firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating and three have given a hold rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $34.75.

A number of brokerages have issued reports on AGR. StockNews.com raised shares of Avangrid from a “sell” rating to a “hold” rating in a report on Friday, February 23rd. Wells Fargo & Company increased their price objective on shares of Avangrid from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Friday, February 23rd. Finally, Janney Montgomery Scott reaffirmed a “sell” rating and set a $35.00 price objective on shares of Avangrid in a report on Friday, March 8th.

Avangrid Trading Down 0.1 %

Avangrid stock opened at $36.78 on Friday. The firm has a 50 day moving average of $35.59 and a 200 day moving average of $32.95. The firm has a market capitalization of $14.23 billion, a price-to-earnings ratio of 15.92, a P/E/G ratio of 2.74 and a beta of 0.55. Avangrid has a 12-month low of $27.46 and a 12-month high of $41.22. 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 (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.18. The company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.54 billion. Avangrid had a net margin of 10.80% and a return on equity of 4.35%. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.64 EPS. As a group, research analysts predict that Avangrid will post 2.23 earnings per share for the current year.

Avangrid Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date of this dividend is Monday, June 3rd. Avangrid’s dividend payout ratio (DPR) is presently 76.19%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Citigroup Inc. lifted its position in Avangrid by 3.5% in the third quarter. Citigroup Inc. now owns 9,791 shares of the utilities provider’s stock worth $295,000 after buying an additional 334 shares during the last quarter. Quent Capital LLC lifted its position in Avangrid by 31.0% in the first quarter. Quent Capital LLC now owns 1,486 shares of the utilities provider’s stock worth $54,000 after buying an additional 352 shares during the last quarter. First Pacific Financial lifted its position in Avangrid by 3.1% in the fourth quarter. First Pacific Financial now owns 13,504 shares of the utilities provider’s stock worth $438,000 after buying an additional 406 shares during the last quarter. Harrington Investments INC lifted its position in Avangrid by 2.1% in the first quarter. Harrington Investments INC now owns 26,983 shares of the utilities provider’s stock worth $983,000 after buying an additional 557 shares during the last quarter. Finally, Magellan Asset Management Ltd lifted its position in Avangrid by 0.3% in the third quarter. Magellan Asset Management Ltd now owns 162,607 shares of the utilities provider’s stock worth $4,906,000 after buying an additional 559 shares during the last quarter. 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.