Avangrid, Inc. (AGR) Sets New 52-Week High at $47.52
Avangrid, Inc. (NYSE:AGR) reached a new 52-week high on Tuesday . The stock traded as high as $47.52 and last traded at $47.53, with a volume of 67,090 shares changing hands. The stock had previously closed at $47.37.
Several equities research analysts have recently weighed in on the company. Evercore ISI upgraded Avangrid from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $43.50 to $46.50 in a research note on Monday, July 24th. Zacks Investment Research lowered Avangrid from a “buy” rating to a “hold” rating in a research note on Tuesday, June 27th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. Avangrid has an average rating of “Buy” and a consensus price target of $46.10.
The firm’s 50 day moving average is $45.56 and its 200-day moving average is $44.06. The company has a market cap of $14.92 billion, a P/E ratio of 22.13 and a beta of 0.56.
Avangrid (NYSE:AGR) last released its quarterly earnings data on Wednesday, July 19th. The utilities provider reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.06. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.43 billion. Avangrid had a net margin of 11.25% and a return on equity of 4.52%. Avangrid’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same period last year, the firm earned $0.33 EPS. Equities research analysts predict that Avangrid, Inc. will post $2.23 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 8th will be issued a $0.432 dividend. This represents a $1.73 annualized dividend and a yield of 3.58%. The ex-dividend date is Thursday, September 7th. Avangrid’s dividend payout ratio (DPR) is presently 79.36%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Personal Financial Services increased its position in Avangrid by 3.4% in the second quarter. First Personal Financial Services now owns 2,862 shares of the utilities provider’s stock valued at $126,000 after buying an additional 94 shares during the period. Boston Common Asset Management LLC increased its position in Avangrid by 25.4% in the first quarter. Boston Common Asset Management LLC now owns 160,674 shares of the utilities provider’s stock valued at $6,867,000 after buying an additional 32,557 shares during the period. Goldman Sachs Group Inc. increased its position in Avangrid by 9.9% in the first quarter. Goldman Sachs Group Inc. now owns 523,337 shares of the utilities provider’s stock valued at $22,368,000 after buying an additional 46,985 shares during the period. NN Investment Partners Holdings N.V. increased its position in Avangrid by 191.4% in the first quarter. NN Investment Partners Holdings N.V. now owns 47,361 shares of the utilities provider’s stock valued at $2,024,000 after buying an additional 31,109 shares during the period. Finally, Public Employees Retirement System of Ohio increased its position in Avangrid by 1.8% in the first quarter. Public Employees Retirement System of Ohio now owns 27,608 shares of the utilities provider’s stock valued at $1,180,000 after buying an additional 486 shares during the period. 13.50% of the stock is owned by institutional investors.
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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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