According to Zacks, “Avangrid, Inc. is an energy and utility company. The company operates regulated utilities, electricity generation and natural gas storage primarily in the United States. Avangrid, Inc. is based in New Gloucester, United States. “
Other equities analysts have also recently issued research reports about the company. Bank of America cut Avangrid from a neutral rating to an underperform rating and cut their price target for the company from $53.00 to $52.50 in a report on Thursday, April 25th. Janney Montgomery Scott cut Avangrid from a neutral rating to a sell rating and cut their price target for the company from $50.00 to $46.00 in a report on Thursday, April 25th. Goldman Sachs Group raised Avangrid from a sell rating to a neutral rating and upped their price target for the company from $46.00 to $47.00 in a report on Monday, April 8th. Macquarie cut Avangrid from an outperform rating to a neutral rating and set a $49.50 price target for the company. in a report on Monday, March 4th. Finally, ValuEngine cut Avangrid from a buy rating to a hold rating in a report on Friday, February 15th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. Avangrid has a consensus rating of Hold and a consensus target price of $52.25.
Avangrid (NYSE:AGR) last posted its quarterly earnings results on Wednesday, April 24th. The utilities provider reported $0.71 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.09). The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.84 billion. Avangrid had a net margin of 8.80% and a return on equity of 4.27%. The company’s revenue was down 1.2% on a year-over-year basis. During the same period last year, the company earned $0.78 EPS. As a group, analysts expect that Avangrid will post 2.26 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be issued a $0.44 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.52%. Avangrid’s payout ratio is presently 79.64%.
Institutional investors and hedge funds have recently modified their holdings of the company. Exane Asset Management raised its holdings in shares of Avangrid by 78.2% in the 1st quarter. Exane Asset Management now owns 37,552 shares of the utilities provider’s stock worth $1,891,000 after buying an additional 16,481 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Avangrid by 11.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 29,713 shares of the utilities provider’s stock worth $1,424,000 after buying an additional 2,933 shares in the last quarter. Trillium Asset Management LLC raised its holdings in shares of Avangrid by 10.1% in the 4th quarter. Trillium Asset Management LLC now owns 177,832 shares of the utilities provider’s stock worth $8,908,000 after buying an additional 16,255 shares in the last quarter. Bank of Nova Scotia acquired a new position in shares of Avangrid in the 4th quarter worth approximately $3,611,000. Finally, Alps Advisors Inc. acquired a new position in shares of Avangrid in the 1st quarter worth approximately $736,000. 14.42% of the stock is owned by institutional investors and hedge funds.
Avangrid Company Profile
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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