Wells Fargo & Company Raises Avangrid (NYSE:AGR) Price Target to $52.00

Avangrid (NYSE:AGRGet Rating) had its price objective boosted by Wells Fargo & Company from $50.00 to $52.00 in a research note released on Monday morning, Marketbeat reports. The brokerage currently has an equal weight rating on the utilities provider’s stock.

Several other equities research analysts have also weighed in on AGR. Mizuho increased their target price on Avangrid from $42.00 to $47.00 and gave the stock an underperform rating in a research report on Monday, September 12th. KeyCorp lowered Avangrid from a sector weight rating to an underweight rating and set a $40.00 target price on the stock. in a research report on Monday, June 27th. They noted that the move was a valuation call. Barclays dropped their target price on Avangrid from $51.00 to $48.00 and set an equal weight rating on the stock in a research report on Monday, July 18th. Siebert Williams Shank initiated coverage on Avangrid in a report on Thursday, June 9th. They set a buy rating and a $57.00 price target on the stock. Finally, StockNews.com raised Avangrid from a hold rating to a buy rating in a report on Monday, August 1st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $48.80.

Avangrid Stock Performance

AGR stock opened at $46.71 on Monday. The company has a current ratio of 0.89, a quick ratio of 0.77 and a debt-to-equity ratio of 0.39. The firm has a market cap of $18.06 billion, a P/E ratio of 19.96, a P/E/G ratio of 3.65 and a beta of 0.34. Avangrid has a 12-month low of $42.20 and a 12-month high of $53.95. The stock’s 50 day simple moving average is $48.92 and its 200 day simple moving average is $47.10.

Avangrid (NYSE:AGRGet Rating) last posted its quarterly earnings results on Tuesday, July 26th. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.13. The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.60 billion. Avangrid had a return on equity of 4.65% and a net margin of 12.12%. During the same period in the prior year, the company posted $0.35 EPS. As a group, equities research analysts predict that Avangrid will post 2.29 EPS for the current year.

Avangrid Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 2nd will be given a $0.44 dividend. The ex-dividend date is Thursday, September 1st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.77%. Avangrid’s dividend payout ratio (DPR) is 75.21%.

Institutional Investors Weigh In On Avangrid

A number of institutional investors have recently bought and sold shares of AGR. Bank of America Corp DE boosted its position in Avangrid by 22.7% during the 4th quarter. Bank of America Corp DE now owns 110,442 shares of the utilities provider’s stock worth $5,508,000 after acquiring an additional 20,464 shares during the period. Dimensional Fund Advisors LP boosted its position in Avangrid by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 302,276 shares of the utilities provider’s stock worth $15,078,000 after acquiring an additional 3,213 shares during the period. HighTower Advisors LLC boosted its position in Avangrid by 57.8% during the 4th quarter. HighTower Advisors LLC now owns 7,928 shares of the utilities provider’s stock worth $393,000 after acquiring an additional 2,904 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Avangrid by 31.1% during the 4th quarter. JPMorgan Chase & Co. now owns 533,580 shares of the utilities provider’s stock worth $26,615,000 after purchasing an additional 126,685 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in shares of Avangrid by 1.4% during the 4th quarter. Rhumbline Advisers now owns 45,438 shares of the utilities provider’s stock worth $2,266,000 after purchasing an additional 625 shares in the last quarter. 12.49% of the stock is currently owned by institutional investors and hedge funds.

About Avangrid

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Avangrid, Inc, an energy services holding company, engages in the regulated energy transmission and distribution, and renewable energy generation businesses in the United States. The company operates through Networks and Renewables segments. It is involved in the generation, transmission, and distribution of electricity; and distribution, transportation, and sale of natural gas.

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