Avangrid Inc. (NYSE:AGR) has received an average recommendation of “Hold” from the eight ratings firms that are currently covering the company. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $40.67.
Several equities analysts recently issued reports on the company. Zacks Investment Research cut Avangrid from a “hold” rating to a “sell” rating in a report on Friday, September 30th. JPMorgan Chase & Co. cut Avangrid from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $44.00 to $41.00 in a report on Friday, September 23rd. Finally, Guggenheim began coverage on Avangrid in a report on Thursday, September 8th. They issued a “neutral” rating for the company.
Avangrid (NYSE:AGR) opened at 40.00 on Thursday. The firm has a market cap of $12.36 billion and a price-to-earnings ratio of 24.42. The company’s 50-day moving average price is $41.49 and its 200 day moving average price is $42.23. Avangrid has a 1-year low of $32.45 and a 1-year high of $46.74.
Avangrid (NYSE:AGR) last issued its quarterly earnings data on Monday, July 18th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by $0.11. Avangrid had a return on equity of 3.07% and a net margin of 8.74%. On average, equities analysts expect that Avangrid will post $2.12 earnings per share for the current fiscal year.
Several large investors have recently made changes to their positions in the stock. Sei Investments Co. increased its stake in shares of Avangrid by 7.6% in the second quarter. Sei Investments Co. now owns 3,077 shares of the company’s stock worth $142,000 after buying an additional 218 shares in the last quarter. Fox Run Management L.L.C. acquired a new stake in shares of Avangrid during the third quarter worth approximately $201,000. Parametrica Management Ltd acquired a new stake in shares of Avangrid during the third quarter worth approximately $203,000. Legal & General Group Plc increased its stake in shares of Avangrid by 39.7% in the second quarter. Legal & General Group Plc now owns 5,892 shares of the company’s stock worth $272,000 after buying an additional 1,674 shares in the last quarter. Finally, Sigma Planning Corp increased its stake in shares of Avangrid by 6.8% in the second quarter. Sigma Planning Corp now owns 6,141 shares of the company’s stock worth $283,000 after buying an additional 390 shares in the last quarter. 13.06% of the stock is owned by institutional investors and hedge funds.
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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