Avangrid, Inc. (NYSE:AGR) Receives $48.50 Consensus Target Price from Brokerages

Avangrid, Inc. (NYSE:AGRGet Rating) has received an average recommendation of “Hold” from the seven research firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $48.50.

Several equities research analysts have recently weighed in on AGR shares. Zacks Investment Research raised Avangrid from a “sell” rating to a “hold” rating and set a $48.00 target price on the stock in a research report on Tuesday, January 25th. StockNews.com started coverage on Avangrid in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Mizuho cut their target price on Avangrid from $47.00 to $42.00 and set an “underperform” rating on the stock in a research report on Thursday, February 24th. Wells Fargo & Company lowered Avangrid from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $60.00 to $48.00 in a report on Wednesday, February 23rd. Finally, Janney Montgomery Scott lowered Avangrid from a “buy” rating to a “neutral” rating in a report on Thursday, February 24th.

A number of institutional investors have recently bought and sold shares of the business. Long Run Wealth Advisors LLC purchased a new stake in shares of Avangrid in the fourth quarter valued at $888,000. Wellington Management Group LLP lifted its position in shares of Avangrid by 0.9% in the third quarter. Wellington Management Group LLP now owns 5,697,474 shares of the utilities provider’s stock valued at $276,898,000 after acquiring an additional 49,170 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Avangrid by 12.0% in the third quarter. Franklin Resources Inc. now owns 338,273 shares of the utilities provider’s stock valued at $16,440,000 after acquiring an additional 36,183 shares in the last quarter. UBS Asset Management Americas Inc. lifted its position in shares of Avangrid by 1.4% in the third quarter. UBS Asset Management Americas Inc. now owns 335,841 shares of the utilities provider’s stock valued at $16,322,000 after acquiring an additional 4,567 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its position in shares of Avangrid by 14.1% in the third quarter. Alliancebernstein L.P. now owns 26,819 shares of the utilities provider’s stock valued at $1,303,000 after acquiring an additional 3,313 shares in the last quarter. 10.66% of the stock is currently owned by institutional investors.

AGR stock opened at $48.93 on Thursday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.13 and a quick ratio of 1.03. The firm has a market capitalization of $18.92 billion, a P/E ratio of 23.64, a P/E/G ratio of 3.59 and a beta of 0.33. The business’s 50-day moving average is $45.56 and its two-hundred day moving average is $48.25. Avangrid has a 1 year low of $42.20 and a 1 year high of $55.57.

Avangrid (NYSE:AGRGet Rating) last posted its quarterly earnings results on Monday, February 21st. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.06. Avangrid had a return on equity of 4.12% and a net margin of 10.14%. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same quarter last year, the company earned $0.62 EPS. Avangrid’s revenue for the quarter was up 15.8% compared to the same quarter last year. On average, analysts expect that Avangrid will post 2.19 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Friday, June 3rd will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 3.60%. The ex-dividend date is Thursday, June 2nd. Avangrid’s dividend payout ratio (DPR) is 85.02%.

About Avangrid (Get Rating)

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.

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