Brokerages Set Avangrid Inc (NYSE:AGR) Target Price at $50.00

Shares of Avangrid Inc (NYSE:AGR) have been assigned a consensus rating of “Hold” from the nine research firms that are covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation and six have assigned a hold recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $50.00.

A number of research firms have recently weighed in on AGR. JPMorgan Chase & Co. increased their price target on Avangrid from $47.00 to $50.00 and gave the company an “underweight” rating in a research note on Monday, October 14th. Goldman Sachs Group set a $50.00 price target on Avangrid and gave the stock a “hold” rating in a research report on Monday, August 12th. Zacks Investment Research raised Avangrid from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, Citigroup downgraded Avangrid from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $62.00 to $52.00 in a report on Monday, August 12th.

A number of large investors have recently modified their holdings of AGR. First Trust Advisors LP increased its stake in Avangrid by 156.0% during the 2nd quarter. First Trust Advisors LP now owns 1,664,787 shares of the utilities provider’s stock worth $84,072,000 after purchasing an additional 1,014,385 shares in the last quarter. Covalis Capital LLP boosted its position in shares of Avangrid by 62.7% during the second quarter. Covalis Capital LLP now owns 616,606 shares of the utilities provider’s stock worth $31,139,000 after buying an additional 237,706 shares during the period. BlackRock Inc. boosted its position in shares of Avangrid by 8.0% during the second quarter. BlackRock Inc. now owns 2,483,439 shares of the utilities provider’s stock worth $125,413,000 after buying an additional 183,346 shares during the period. Aperio Group LLC grew its holdings in shares of Avangrid by 65.7% during the second quarter. Aperio Group LLC now owns 459,584 shares of the utilities provider’s stock worth $23,209,000 after buying an additional 182,279 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of Avangrid by 363.6% during the third quarter. Russell Investments Group Ltd. now owns 212,213 shares of the utilities provider’s stock worth $11,087,000 after buying an additional 166,438 shares in the last quarter. 14.55% of the stock is owned by hedge funds and other institutional investors.

Shares of AGR traded up $0.52 on Friday, reaching $49.03. 12,002 shares of the company’s stock were exchanged, compared to its average volume of 313,362. The business has a 50 day moving average price of $49.29 and a two-hundred day moving average price of $50.19. Avangrid has a 12 month low of $47.45 and a 12 month high of $53.47. The stock has a market capitalization of $15.00 billion, a P/E ratio of 22.19, a price-to-earnings-growth ratio of 2.92 and a beta of 0.10. The company has a current ratio of 0.66, a quick ratio of 0.57 and a debt-to-equity ratio of 0.44.

Avangrid (NYSE:AGR) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.11). Avangrid had a net margin of 9.32% and a return on equity of 3.98%. The business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the previous year, the business posted $0.45 earnings per share. Avangrid’s revenue was down 3.8% compared to the same quarter last year. Equities research analysts predict that Avangrid will post 2.25 EPS for the current year.

About Avangrid

Avangrid, Inc operates as an energy services holding company in the United States. It operates through two segments, Networks and Renewables. The company engages in the generation, transmission, and distribution of electricity, as well as distribution, transportation, and sale of natural gas. It also develops, constructs, and operates renewable energy generation facilities primarily using onshore wind power, as well as solar, biomass, and thermal power.

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Analyst Recommendations for Avangrid (NYSE:AGR)

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