Somewhat Positive News Coverage Somewhat Unlikely to Affect Avangrid (AGR) Share Price
Media coverage about Avangrid (NYSE:AGR) has been trending somewhat positive this week, according to Accern. Accern rates the sentiment of news coverage by reviewing more than 20 million news and blog sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Avangrid earned a coverage optimism score of 0.19 on Accern’s scale. Accern also gave news headlines about the utilities provider an impact score of 46.6112628099983 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
Shares of Avangrid (NYSE:AGR) traded up 0.56% during midday trading on Thursday, hitting $46.93. 230,168 shares of the company traded hands. Avangrid has a 12-month low of $35.42 and a 12-month high of $47.09. The stock’s 50-day moving average is $44.96 and its 200 day moving average is $43.44. The stock has a market capitalization of $14.50 billion, a P/E ratio of 21.52 and a beta of 0.56.
Avangrid (NYSE:AGR) last issued its quarterly earnings data on Wednesday, July 19th. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.06. The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Avangrid had a net margin of 11.25% and a return on equity of 4.52%. The business’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.33 earnings per share. On average, analysts expect that Avangrid will post $2.23 earnings per share for the current year.
The company 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 dividend of $0.432 per share. This represents a $1.73 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date is Thursday, September 7th. Avangrid’s dividend payout ratio is currently 79.36%.
Several analysts recently commented on the stock. Zacks Investment Research raised shares of Avangrid from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research note on Tuesday, May 2nd. Evercore ISI upgraded shares of Avangrid from an “in-line” rating to an “outperform” rating and upped their price target for the company from $43.50 to $46.50 in a research report on Monday, July 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $46.10.
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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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