Avangrid Inc. (AGR) Trading Down 1.4%
Avangrid Inc. (NYSE:AGR)’s share price traded down 1.4% on Wednesday . The company traded as low as $44.31 and last traded at $44.37, with a volume of 276,618 shares trading hands. The stock had previously closed at $45.00.
Separately, Zacks Investment Research upgraded Avangrid from a “sell” rating to a “hold” rating and set a $45.00 price objective for the company in a research note on Tuesday, April 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $41.00.
The company’s 50 day moving average price is $44.60 and its 200-day moving average price is $40.76. The firm has a market cap of $13.93 billion and a PE ratio of 27.47.
Avangrid (NYSE:AGR) last released its quarterly earnings data on Monday, July 18th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by $0.11. On average, equities analysts predict that Avangrid Inc. will post $2.11 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 9th will be paid a $0.432 dividend. The ex-dividend date is Wednesday, September 7th. This represents a $1.73 annualized dividend and a yield of 3.88%.
In related news, insider R. Scott Mahoney acquired 1,000 shares of the firm’s stock in a transaction on Thursday, May 12th. The stock was bought at an average price of $40.46 per share, for a total transaction of $40,460.00. Following the completion of the purchase, the insider now directly owns 40,461 shares of the company’s stock, valued at approximately $1,637,052.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
A number of institutional investors recently added to or reduced their stakes in AGR. Cornerstone Capital Management Holdings LLC. bought a new position in Avangrid during the fourth quarter valued at about $1,710,000. OppenheimerFunds Inc. bought a new position in Avangrid during the fourth quarter valued at about $6,569,000. California Public Employees Retirement System bought a new position in Avangrid during the fourth quarter valued at about $4,266,000. Rhumbline Advisers bought a new position in Avangrid during the fourth quarter valued at about $3,389,000. Finally, State Board of Administration of Florida Retirement System bought a new position in Avangrid during the fourth quarter valued at about $1,725,000.
Avangrid, Inc is a diversified energy and utility company with more than $30 billion in assets and operations in 25 states. The company operates regulated utilities and electricity generation through two primary lines of business. Avangrid Networks includes eight electric and natural gas utilities, serving approximately 3.1 million customers in New York and New England.
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