Avangrid, Inc. (NYSE:AGR) Given Consensus Rating of “Reduce” by Brokerages

Shares of Avangrid, Inc. (NYSE:AGR) have received an average recommendation of “Reduce” from the four brokerages that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating and three have issued a hold rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $34.75.

Several equities analysts recently issued reports on the stock. Janney Montgomery Scott reiterated a “sell” rating and set a $35.00 price target on shares of Avangrid in a research report on Friday, March 8th. StockNews.com upgraded shares of Avangrid from a “sell” rating to a “hold” rating in a research report on Friday, February 23rd. Finally, Wells Fargo & Company boosted their price target on shares of Avangrid from $34.00 to $35.00 and gave the company an “equal weight” rating in a research report on Friday, February 23rd.

Avangrid Stock Performance

Shares of NYSE:AGR opened at $36.85 on Friday. The company has a market cap of $14.26 billion, a price-to-earnings ratio of 15.95, a price-to-earnings-growth ratio of 2.74 and a beta of 0.55. The company has a 50-day moving average price of $35.81 and a 200-day moving average price of $33.00. 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 has a 12 month low of $27.46 and a 12 month high of $41.22.

Avangrid (NYSE:AGR) last issued its quarterly earnings data on Wednesday, April 24th. The utilities provider reported $0.88 EPS for the quarter, beating the consensus estimate of $0.70 by $0.18. The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.54 billion. Avangrid had a net margin of 10.80% and a return on equity of 4.35%. The company’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 earnings per share. As a group, equities analysts anticipate that Avangrid will post 2.23 EPS for the current year.

Avangrid Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders 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 yield of 4.78%. The ex-dividend date of this dividend is Monday, June 3rd. Avangrid’s dividend payout ratio (DPR) is presently 76.19%.

Institutional Investors Weigh In On Avangrid

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State Board of Administration of Florida Retirement System grew its holdings in Avangrid by 2.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 117,411 shares of the utilities provider’s stock worth $4,682,000 after purchasing an additional 2,951 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in Avangrid in the first quarter worth about $4,504,000. Bell Investment Advisors Inc grew its holdings in Avangrid by 163.9% in the first quarter. Bell Investment Advisors Inc now owns 863 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 536 shares during the period. QRG Capital Management Inc. grew its holdings in Avangrid by 28.0% in the first quarter. QRG Capital Management Inc. now owns 10,170 shares of the utilities provider’s stock worth $371,000 after purchasing an additional 2,224 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in Avangrid in the first quarter worth about $26,000. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Avangrid Company Profile

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.