Avangrid (NYSE:AGR) Downgraded by StockNews.com to Hold

StockNews.com downgraded shares of Avangrid (NYSE:AGRGet Rating) from a buy rating to a hold rating in a report published on Monday morning.

Several other equities research analysts have also commented on the company. KeyCorp cut their target price on Avangrid from $41.00 to $35.00 and set an underweight rating on the stock in a research report on Thursday, October 20th. Wells Fargo & Company upped their price target on Avangrid to $48.00 in a research note on Wednesday, December 14th. Finally, Mizuho upped their price target on Avangrid from $39.00 to $41.00 and gave the stock a neutral rating in a research note on Monday, October 31st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $45.80.

Avangrid Stock Down 2.0 %

Shares of Avangrid stock opened at $43.40 on Monday. Avangrid has a one year low of $37.64 and a one year high of $51.71. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.74 and a quick ratio of 0.61. The stock’s 50-day moving average is $42.57 and its 200 day moving average is $44.68. The firm has a market cap of $16.78 billion, a price-to-earnings ratio of 18.71, a PEG ratio of 3.46 and a beta of 0.39.

Avangrid (NYSE:AGRGet Rating) last announced its earnings results on Tuesday, October 25th. The utilities provider reported $0.31 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.01). Avangrid had a net margin of 11.66% and a return on equity of 4.56%. The business had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the company earned $0.34 EPS. Equities research analysts anticipate that Avangrid will post 2.34 EPS for the current year.

Avangrid Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 3rd. Stockholders of record on Thursday, December 1st were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 4.06%. The ex-dividend date of this dividend was Wednesday, November 30th. Avangrid’s dividend payout ratio (DPR) is presently 75.86%.

Institutional Trading of Avangrid

Several institutional investors and hedge funds have recently modified their holdings of AGR. Cetera Advisor Networks LLC purchased a new stake in shares of Avangrid in the first quarter worth approximately $214,000. Citigroup Inc. increased its position in shares of Avangrid by 208.4% during the first quarter. Citigroup Inc. now owns 12,951 shares of the utilities provider’s stock valued at $605,000 after acquiring an additional 8,751 shares during the last quarter. Bank of Montreal Can increased its position in shares of Avangrid by 90.5% during the first quarter. Bank of Montreal Can now owns 21,626 shares of the utilities provider’s stock valued at $1,012,000 after acquiring an additional 10,271 shares during the last quarter. MetLife Investment Management LLC purchased a new stake in shares of Avangrid during the first quarter valued at approximately $53,000. Finally, Rhumbline Advisers increased its position in shares of Avangrid by 4.6% during the first quarter. Rhumbline Advisers now owns 47,510 shares of the utilities provider’s stock valued at $2,221,000 after acquiring an additional 2,072 shares during the last quarter. 11.96% of the stock is owned by hedge funds and other institutional investors.

About Avangrid

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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.

Further Reading

Analyst Recommendations for Avangrid (NYSE:AGR)

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