Avangrid (AGR) Raised to Buy at ValuEngine

Avangrid (NYSE:AGR) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.

Other equities analysts have also recently issued reports about the stock. Citigroup reduced their price objective on shares of Avangrid from $59.00 to $57.00 and set a “buy” rating for the company in a research report on Tuesday. Goldman Sachs Group cut shares of Avangrid from a “buy” rating to a “neutral” rating and set a $50.00 target price for the company. in a research report on Sunday, October 28th. Zacks Investment Research raised shares of Avangrid from a “sell” rating to a “hold” rating in a research report on Friday, August 31st. Wolfe Research cut shares of Avangrid from a “peer perform” rating to an “underperform” rating in a research report on Monday, August 13th. Finally, Wells Fargo & Co boosted 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. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $53.78.

AGR stock opened at $50.78 on Wednesday. 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 one year low of $45.17 and a one year high of $54.55. The firm has a market cap of $15.57 billion, a price-to-earnings ratio of 23.08, a P/E/G ratio of 2.55 and a beta of 0.15.

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

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its position in shares of 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 acquiring an additional 50,929 shares during the period. Securian Asset Management Inc raised its stake in Avangrid by 179.1% in the third quarter. Securian Asset Management Inc now owns 48,011 shares of the utilities provider’s stock valued at $2,301,000 after purchasing an additional 30,811 shares in the last quarter. Renaissance Technologies LLC raised its stake in Avangrid by 75.1% in the second quarter. Renaissance Technologies LLC now owns 743,800 shares of the utilities provider’s stock valued at $39,369,000 after purchasing an additional 318,900 shares in the last quarter. Legal & General Group Plc raised its stake in Avangrid by 3.5% in the second quarter. Legal & General Group Plc now owns 310,630 shares of the utilities provider’s stock valued at $16,442,000 after purchasing an additional 10,579 shares in the last quarter. Finally, Millennium Management LLC acquired a new position in Avangrid in the second quarter valued at about $18,368,000. 14.20% of the stock is owned by institutional investors.

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. The company also develops, constructs, and operates renewable energy generation facilities primarily using onshore wind power, as well as solar, biomass, and thermal power.

See Also: Leveraged Buyout (LBO)

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Avangrid (NYSE:AGR)

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