Avangrid (NYSE:AGR) Shares Gap Down to $53.22

Avangrid, Inc. (NYSE:AGR) shares gapped down before the market opened on Thursday . The stock had previously closed at $53.22, but opened at $52.00. Avangrid shares last traded at $52.16, with a volume of 598 shares.

A number of equities analysts have issued reports on AGR shares. Janney Montgomery Scott raised shares of Avangrid from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $45.00 to $55.00 in a report on Thursday, February 25th. Zacks Investment Research raised Avangrid from a “sell” rating to a “hold” rating in a report on Friday, February 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $53.20.

The firm has a market capitalization of $16.19 billion, a PE ratio of 25.37, a PEG ratio of 4.35 and a beta of 0.21. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.40 and a current ratio of 0.46. The company has a fifty day simple moving average of $49.40 and a two-hundred day simple moving average of $48.24.

Avangrid (NYSE:AGR) last posted its quarterly earnings results on Monday, February 22nd. The utilities provider reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.05. Avangrid had a return on equity of 4.20% and a net margin of 10.19%. The business had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the previous year, the business earned $0.64 EPS. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, equities analysts anticipate that Avangrid, Inc. will post 1.97 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 1st. Shareholders of record on Friday, June 4th will be given a dividend of $0.44 per share. The ex-dividend date is Thursday, June 3rd. This represents a $1.76 dividend on an annualized basis and a yield of 3.36%. Avangrid’s dividend payout ratio is currently 81.11%.

Several institutional investors have recently made changes to their positions in AGR. TD Ameritrade Investment Management LLC acquired a new position in shares of Avangrid during the fourth quarter valued at approximately $39,000. Whittier Trust Co. acquired a new stake in Avangrid during the fourth quarter worth $56,000. Cowa LLC purchased a new position in shares of Avangrid during the fourth quarter worth $59,000. International Assets Investment Management LLC purchased a new position in shares of Avangrid during the fourth quarter worth $67,000. Finally, Exchange Traded Concepts LLC boosted its position in shares of Avangrid by 726.2% during the first quarter. Exchange Traded Concepts LLC now owns 1,735 shares of the utilities provider’s stock worth $86,000 after buying an additional 1,525 shares during the period. 13.74% of the stock is owned by institutional investors and hedge funds.

About Avangrid (NYSE:AGR)

Avangrid, Inc operates as an energy services holding company in the United States. It operates through two segments, Networks and Renewables. The company engages in the generation, transmission, and distribution of electricity, as well as distribution, transportation, and sale of natural gas. It also develops, constructs, and operates renewable energy generation facilities primarily using onshore wind power, as well as solar, biomass, and thermal power.

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