According to Zacks, “Avangrid, Inc. is an energy and utility company. The company operates regulated utilities, electricity generation and natural gas storage primarily in the United States. Avangrid, Inc. is based in New Gloucester, United States. “
A number of other research analysts have also recently weighed in on AGR. Guggenheim began coverage on shares of Avangrid in a report on Thursday, September 8th. They issued a neutral rating for the company. JPMorgan Chase & Co. cut shares of Avangrid from a neutral rating to an underweight rating and cut their price objective for the company from $44.00 to $41.00 in a report on Friday, September 23rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $41.75.
Shares of Avangrid (NYSE:AGR) opened at 41.78 on Friday. The company has a 50-day moving average of $42.45 and a 200-day moving average of $42.24. The stock has a market capitalization of $12.91 billion and a price-to-earnings ratio of 25.51. Avangrid has a 52-week low of $32.45 and a 52-week high of $46.74.
Avangrid (NYSE:AGR) last released its quarterly earnings data on Monday, July 18th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by $0.11. Avangrid had a net margin of 8.74% and a return on equity of 3.07%. Equities research analysts anticipate that Avangrid will post $2.12 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 9th will be given a $0.432 dividend. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $1.73 annualized dividend and a dividend yield of 4.14%.
Several hedge funds have recently made changes to their positions in the stock. Meeder Asset Management Inc. acquired a new position in Avangrid during the first quarter worth $772,000. OMERS ADMINISTRATION Corp acquired a new position in Avangrid during the first quarter worth $690,000. M&T Bank Corp raised its position in Avangrid by 4.1% in the first quarter. M&T Bank Corp now owns 7,977 shares of the company’s stock worth $319,000 after buying an additional 317 shares during the last quarter. Brookfield Asset Management Inc. raised its position in Avangrid by 921.3% in the first quarter. Brookfield Asset Management Inc. now owns 57,600 shares of the company’s stock worth $2,310,000 after buying an additional 51,960 shares during the last quarter. Finally, Howard Hughes Medical Institute raised its position in Avangrid by 3.8% in the first quarter. Howard Hughes Medical Institute now owns 33,811 shares of the company’s stock worth $1,356,000 after buying an additional 1,236 shares during the last quarter. Institutional investors and hedge funds own 13.06% of the company’s stock.
Avangrid Company Profile
Avangrid, Inc is a diversified energy and utility company with more than $30 billion in assets and operations in 25 states. The company operates regulated utilities and electricity generation through two primary lines of business. Avangrid Networks includes eight electric and natural gas utilities, serving approximately 3.1 million customers in New York and New England.
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