Avangrid Inc (NYSE:AGR) – Analysts at Gabelli lowered their FY2018 earnings per share (EPS) estimates for Avangrid in a note issued to investors on Wednesday. Gabelli analyst T. Winter now expects that the utilities provider will earn $2.35 per share for the year, down from their previous estimate of $2.45. Gabelli currently has a “Buy” rating on the stock. Gabelli also issued estimates for Avangrid’s FY2019 earnings at $2.55 EPS, FY2020 earnings at $2.80 EPS, FY2021 earnings at $3.00 EPS and FY2022 earnings at $3.25 EPS.
AGR has been the subject of a number of other research reports. Wells Fargo & Co reaffirmed a “market perform” rating and issued a $51.00 target price (down previously from $54.00) on shares of Avangrid in a report on Wednesday. Guggenheim set a $55.00 target price on Avangrid and gave the stock a “buy” rating in a report on Thursday, February 15th. Bank of America reaffirmed a “buy” rating and issued a $53.00 target price (up previously from $52.00) on shares of Avangrid in a report on Thursday. Zacks Investment Research raised Avangrid from a “sell” rating to a “hold” rating in a report on Monday, January 22nd. Finally, TheStreet raised Avangrid from a “c” rating to a “b-” rating in a report on Monday, December 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. Avangrid presently has an average rating of “Buy” and a consensus price target of $50.50.
Avangrid (NYSE:AGR) opened at $49.72 on Friday. Avangrid has a fifty-two week low of $41.61 and a fifty-two week high of $53.46. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.69 and a quick ratio of 0.56. The stock has a market capitalization of $15,360.00 and a PE ratio of 40.42.
Avangrid (NYSE:AGR) last issued its earnings results on Tuesday, February 20th. The utilities provider reported $0.61 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.61. Avangrid had a return on equity of 4.47% and a net margin of 6.39%. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the prior year, the firm earned $0.67 EPS. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year.
Hedge funds have recently modified their holdings of the company. Ffcm LLC acquired a new stake in shares of Avangrid in the third quarter valued at about $134,000. Advisor Group Inc. increased its stake in shares of Avangrid by 56.6% in the fourth quarter. Advisor Group Inc. now owns 3,071 shares of the utilities provider’s stock valued at $154,000 after buying an additional 1,110 shares during the period. State of Alaska Department of Revenue acquired a new stake in shares of Avangrid in the fourth quarter valued at about $166,000. McKinley Carter Wealth Services Inc. acquired a new stake in shares of Avangrid in the third quarter valued at about $207,000. Finally, Wealthstreet Investment Advisors LLC acquired a new stake in shares of Avangrid in the fourth quarter valued at about $209,000. 13.76% of the stock is owned by institutional investors.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Friday, March 9th will be paid a $0.432 dividend. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $1.73 annualized dividend and a dividend yield of 3.48%. Avangrid’s payout ratio is 140.65%.
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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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