Avangrid, Inc. (AGR) Sets New 1-Year High at $51.74
Avangrid, Inc. (NYSE:AGR) hit a new 52-week high on Tuesday . The company traded as high as $51.74 and last traded at $51.84, with a volume of 348,338 shares changing hands. The stock had previously closed at $50.83.
A number of equities research analysts recently weighed in on AGR shares. Zacks Investment Research lowered shares of Avangrid from a “hold” rating to a “sell” rating in a report on Friday, October 13th. J P Morgan Chase & Co lifted their price objective on shares of Avangrid from $43.00 to $47.00 and gave the company an “underweight” rating in a report on Thursday, October 12th. Evercore ISI upgraded shares of Avangrid from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $43.50 to $46.50 in a report on Monday, July 24th. Finally, Bank of America Corp started coverage on shares of Avangrid in a report on Tuesday, October 24th. They set a “buy” rating and a $52.00 price objective for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $47.50.
The firm has a market cap of $15.98 billion, a price-to-earnings ratio of 23.72 and a beta of 0.49. The company’s 50-day moving average price is $47.97 and its 200-day moving average price is $46.04.
Avangrid (NYSE:AGR) last issued its quarterly earnings results on Tuesday, October 24th. The utilities provider reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.03. The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Avangrid had a net margin of 11.23% and a return on equity of 4.60%. The business’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.35 earnings per share. On average, analysts expect that Avangrid, Inc. will post $2.23 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently modified their holdings of AGR. BlackRock Inc. lifted its position in shares of Avangrid by 34,543.3% during the first quarter. BlackRock Inc. now owns 2,105,968 shares of the utilities provider’s stock worth $90,008,000 after purchasing an additional 2,099,889 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Avangrid by 3.5% during the second quarter. Vanguard Group Inc. now owns 5,324,114 shares of the utilities provider’s stock worth $235,061,000 after purchasing an additional 181,812 shares in the last quarter. Trillium Asset Management LLC acquired a new stake in shares of Avangrid during the second quarter worth about $7,231,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Avangrid by 81.0% during the second quarter. Arrowstreet Capital Limited Partnership now owns 312,598 shares of the utilities provider’s stock worth $13,801,000 after purchasing an additional 139,914 shares in the last quarter. Finally, Baillie Gifford & Co. lifted its position in shares of Avangrid by 34.8% during the third quarter. Baillie Gifford & Co. now owns 482,360 shares of the utilities provider’s stock worth $22,874,000 after purchasing an additional 124,571 shares in the last quarter. 13.20% of the stock is currently owned by institutional investors and hedge funds.
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.
Receive News & Ratings for Avangrid Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avangrid Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.