Avangrid Inc. (AGR) Trading Down 1.9%
Avangrid Inc. (NYSE:AGR)’s share price traded down 1.9% during mid-day trading on Thursday . The company traded as low as $45.31 and last traded at $45.47, with a volume of 254,728 shares changing hands. The stock had previously closed at $46.34.
Separately, Zacks Investment Research upgraded shares of Avangrid from a “sell” rating to a “hold” rating and set a $45.00 target price for the company in a research report on Tuesday, April 26th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $41.00.
The firm has a market capitalization of $14.09 billion and a P/E ratio of 32.86. The firm’s 50 day moving average price is $43.31 and its 200 day moving average price is $40.14.
Avangrid (NYSE:AGR) last issued its earnings results on Tuesday, April 26th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.56 by $0.07. On average, analysts anticipate that Avangrid Inc. will post $2.13 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 1st. Investors of record on Friday, June 10th were given a $0.432 dividend. The ex-dividend date of this dividend was Wednesday, June 8th. This represents a $1.73 annualized dividend and a yield of 3.79%.
In other news, insider R. Scott Mahoney bought 1,000 shares of Avangrid stock in a transaction that occurred on Thursday, May 12th. The stock was purchased at an average cost of $40.46 per share, with a total value of $40,460.00. Following the completion of the transaction, the insider now directly owns 40,461 shares in the company, valued at $1,637,052.06. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Other hedge funds and institutional investors recently modified their holdings of the company. Russell Frank Co bought a new position in shares of Avangrid during the fourth quarter worth about $1,124,000. State of Wisconsin Investment Board bought a new position in shares of Avangrid during the fourth quarter worth about $1,598,000. Wells Fargo & Company MN bought a new position in shares of Avangrid during the fourth quarter worth about $1,602,000. Cornerstone Capital Management Holdings LLC. bought a new position in shares of Avangrid during the fourth quarter worth about $1,710,000. Finally, State Board of Administration of Florida Retirement System bought a new position in shares of Avangrid during the fourth quarter worth about $1,725,000.
Avangrid, Inc, formerly Iberdrola USA, Inc, is an energy services holding company. The Company, through its principal subsidiaries, Iberdrola USA Networks, Inc (Iberdrola Networks) and Iberdrola Renewables Holding, Inc (IRHI), is engaged in the regulated energy distribution, renewable energy generation (Renewables) and gas businesses (Gas), collectively (Renewables and Gas).
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