Zacks Investment Research upgraded shares of Avangrid, Inc. (NYSE:AGR) from a sell rating to a hold rating in a research report report published on Thursday morning.
According to Zacks, “Avangrid, Inc. is an energy and utility company. The company operates regulated utilities, electricity generation and natural gas storage primarily in the United States. Avangrid, Inc. is based in New Gloucester, United States. “
Other research analysts also recently issued research reports about the stock. Bank of America Corporation assumed coverage on shares of Avangrid in a research report on Tuesday, October 24th. They issued a buy rating and a $52.00 price target on the stock. Evercore ISI upgraded shares of Avangrid from an in-line rating to an outperform rating and boosted their price target for the stock from $43.50 to $46.50 in a research report on Monday, July 24th. Finally, J P Morgan Chase & Co boosted their price target on shares of Avangrid from $43.00 to $47.00 and gave the stock an underweight rating in a research report on Thursday, October 12th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $47.50.
Shares of Avangrid (AGR) opened at 51.04 on Thursday. Avangrid has a 52 week low of $35.42 and a 52 week high of $51.38. The company has a market cap of $15.77 billion, a P/E ratio of 23.40 and a beta of 0.49. The firm has a 50-day moving average of $47.90 and a 200 day moving average of $45.95.
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 Zacks’ consensus estimate of $0.37 by $0.03. The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. Avangrid had a net margin of 11.23% and a return on equity of 4.60%. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.35 EPS. Equities analysts anticipate that Avangrid will post $2.23 earnings per share for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in AGR. Russell Investments Group Ltd. lifted its position in shares of Avangrid by 241.2% during the 1st quarter. Russell Investments Group Ltd. now owns 8,093 shares of the utilities provider’s stock valued at $345,000 after acquiring an additional 5,721 shares during the period. UBS Asset Management Americas Inc. lifted its position in shares of Avangrid by 151.0% during the 1st quarter. UBS Asset Management Americas Inc. now owns 27,403 shares of the utilities provider’s stock valued at $1,171,000 after acquiring an additional 16,485 shares during the period. Ameriprise Financial Inc. lifted its position in shares of Avangrid by 66.5% during the 1st quarter. Ameriprise Financial Inc. now owns 28,055 shares of the utilities provider’s stock valued at $1,199,000 after acquiring an additional 11,208 shares during the period. Principal Financial Group Inc. lifted its position in shares of Avangrid by 26.5% during the 1st quarter. Principal Financial Group Inc. now owns 8,837 shares of the utilities provider’s stock valued at $378,000 after acquiring an additional 1,850 shares during the period. Finally, Teachers Advisors LLC lifted its position in shares of Avangrid by 51.8% during the 1st quarter. Teachers Advisors LLC now owns 99,596 shares of the utilities provider’s stock valued at $4,257,000 after acquiring an additional 33,979 shares during the period. Institutional investors own 13.20% of the company’s stock.
Avangrid Company Profile
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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