Avangrid Inc (AGR) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Avangrid Inc (NYSE:AGR) have earned a consensus rating of “Hold” from the thirteen analysts that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $53.86.

A number of research analysts recently issued reports on AGR shares. Zacks Investment Research cut shares of Avangrid from a “hold” rating to a “sell” rating in a research note on Monday, October 8th. Goldman Sachs Group restated a “neutral” rating on shares of Avangrid in a research report on Monday, October 29th. TheStreet upgraded shares of Avangrid from a “c+” rating to a “b” rating in a research report on Wednesday, November 14th. Wells Fargo & Co raised their target price on shares of Avangrid from $54.00 to $55.00 and gave the company a “market perform” rating in a research report on Monday, September 17th. Finally, Wolfe Research lowered shares of Avangrid from a “peer perform” rating to an “underperform” rating in a research report on Monday, August 13th.

NYSE:AGR traded down $0.10 during mid-day trading on Monday, reaching $49.10. The stock had a trading volume of 496,700 shares, compared to its average volume of 485,923. The stock has a market capitalization of $15.20 billion, a price-to-earnings ratio of 22.32, a price-to-earnings-growth ratio of 2.49 and a beta of 0.14. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.67 and a quick ratio of 0.59. Avangrid has a 12 month low of $45.17 and a 12 month high of $54.55.

Avangrid (NYSE:AGR) last announced its quarterly earnings data on Tuesday, October 23rd. The utilities provider reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.01). The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.32 billion. Avangrid had a net margin of 6.29% and a return on equity of 4.55%. The business’s revenue was up 15.3% compared to the same quarter last year. During the same period last year, the business earned $0.40 earnings per share. As a group, analysts anticipate that Avangrid will post 2.27 EPS for the current fiscal year.

Institutional investors have recently modified their holdings of the business. BlackRock Inc. boosted its position in Avangrid by 2.4% in the second quarter. BlackRock Inc. now owns 2,200,554 shares of the utilities provider’s stock valued at $116,475,000 after buying an additional 50,929 shares in the last quarter. Securian Asset Management Inc lifted its holdings in shares of Avangrid by 179.1% during the third quarter. Securian Asset Management Inc now owns 48,011 shares of the utilities provider’s stock worth $2,301,000 after purchasing an additional 30,811 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Avangrid by 75.1% during the second quarter. Renaissance Technologies LLC now owns 743,800 shares of the utilities provider’s stock worth $39,369,000 after purchasing an additional 318,900 shares during the period. Legal & General Group Plc lifted its holdings in shares of Avangrid by 3.5% during the second quarter. Legal & General Group Plc now owns 310,630 shares of the utilities provider’s stock worth $16,442,000 after purchasing an additional 10,579 shares during the period. Finally, Millennium Management LLC acquired a new position in shares of Avangrid during the second quarter worth $18,368,000. Hedge funds and other institutional investors own 13.86% of the company’s stock.

About Avangrid

Avangrid, Inc operates as an energy services holding company in the United States. It engages in the generation, transmission, and distribution of electricity, as well as distribution, transportation, and sale of natural gas. As of December 31, 2017, the company delivered electricity to approximately 2.2 million electric utility customers, as well as natural gas to approximately 1 million natural gas public utility customers; and owned approximately 67.5 billion cubic feet of net working gas storage capacity.

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Analyst Recommendations for Avangrid (NYSE:AGR)

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