Shares of Avangrid Inc (NYSE:AGR) have been assigned a consensus recommendation of “Buy” from the eleven analysts that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $51.75.
AGR has been the topic of a number of research reports. TheStreet raised Avangrid from a “c” rating to a “b-” rating in a report on Monday, December 18th. Bank of America raised their price target on Avangrid from $53.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday. ValuEngine raised Avangrid from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Goldman Sachs initiated coverage on Avangrid in a report on Wednesday, January 10th. They set a “buy” rating on the stock. Finally, Gabelli reissued a “buy” rating on shares of Avangrid in a report on Wednesday, February 21st.
Shares of AGR stock traded up $0.81 during mid-day trading on Friday, hitting $50.42. 248,877 shares of the stock were exchanged, compared to its average volume of 541,965. The firm has a market cap of $15,604.77, a price-to-earnings ratio of 22.81, a PEG ratio of 2.32 and a beta of 0.18. Avangrid has a 12-month low of $43.13 and a 12-month high of $53.46. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.66 and a current ratio of 0.73.
The business also recently declared a quarterly dividend, which was paid on Monday, April 2nd. Investors of record on Friday, March 9th were issued a dividend of $0.432 per share. This represents a $1.73 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date was Thursday, March 8th. Avangrid’s dividend payout ratio is currently 78.64%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in AGR. Jennison Associates LLC acquired a new stake in Avangrid in the fourth quarter valued at about $41,350,000. Wells Fargo & Company MN lifted its position in Avangrid by 255.3% in the third quarter. Wells Fargo & Company MN now owns 689,384 shares of the utilities provider’s stock valued at $32,692,000 after purchasing an additional 495,371 shares during the period. Electron Capital Partners LLC lifted its position in Avangrid by 47.6% in the fourth quarter. Electron Capital Partners LLC now owns 681,513 shares of the utilities provider’s stock valued at $34,471,000 after purchasing an additional 219,904 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in Avangrid by 61.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 383,808 shares of the utilities provider’s stock valued at $19,413,000 after purchasing an additional 146,158 shares during the period. Finally, Allianz Asset Management GmbH lifted its position in Avangrid by 70.9% in the fourth quarter. Allianz Asset Management GmbH now owns 351,301 shares of the utilities provider’s stock valued at $17,769,000 after purchasing an additional 145,757 shares during the period. 14.28% of the stock is currently owned by hedge funds and other institutional investors.
Avangrid Company Profile
Avangrid, Inc is an energy and utility company. The Company operates through three segments: Networks, Renewables and Gas. The Networks segment includes all the energy transmission and distribution activities, and any other regulated activity originating in New York and Maine, and regulated electric distribution, electric transmission and gas distribution activities originating in Connecticut and Massachusetts.
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