Avangrid (NYSE:AGR) Shares Gap Down to $37.53

Avangrid, Inc. (NYSE:AGRGet Free Report) shares gapped down before the market opened on Friday . The stock had previously closed at $37.53, but opened at $35.80. Avangrid shares last traded at $35.75, with a volume of 1,869,596 shares changing hands.

Analyst Upgrades and Downgrades

AGR has been the subject of a number of recent analyst reports. Wells Fargo & Company lifted their target price on shares of Avangrid from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Friday, February 23rd. StockNews.com upgraded shares of Avangrid from a “sell” rating to a “hold” rating in a research note on Friday, February 23rd. Finally, Janney Montgomery Scott reissued a “sell” rating and set a $35.00 price objective on shares of Avangrid in a report on Friday, March 8th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $34.75.

View Our Latest Analysis on Avangrid

Avangrid Trading Down 4.5 %

The company has a quick ratio of 0.50, a current ratio of 0.58 and a debt-to-equity ratio of 0.47. The stock has a market cap of $13.87 billion, a PE ratio of 15.52, a price-to-earnings-growth ratio of 2.68 and a beta of 0.55. The stock has a 50-day moving average of $36.27 and a 200 day moving average of $33.34.

Avangrid (NYSE:AGRGet Free Report) last released its quarterly earnings data on Wednesday, April 24th. The utilities provider reported $0.88 EPS for the quarter, beating the consensus estimate of $0.70 by $0.18. The business had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.54 billion. Avangrid had a net margin of 10.80% and a return on equity of 4.35%. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 EPS. As a group, sell-side analysts anticipate that Avangrid, Inc. will post 2.23 earnings per share for the current year.

Avangrid Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a $0.44 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.76 annualized dividend and a dividend yield of 4.91%. Avangrid’s dividend payout ratio (DPR) is presently 76.19%.

Institutional Investors Weigh In On Avangrid

Several hedge funds have recently bought and sold shares of AGR. Handelsbanken Fonder AB acquired a new position in shares of Avangrid in the 4th quarter valued at $4,195,000. Assenagon Asset Management S.A. grew its position in shares of Avangrid by 179.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 157,984 shares of the utilities provider’s stock valued at $5,120,000 after acquiring an additional 101,543 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Avangrid during the 4th quarter valued at about $1,583,000. Jump Financial LLC raised its holdings in Avangrid by 134.0% in the 4th quarter. Jump Financial LLC now owns 119,198 shares of the utilities provider’s stock worth $3,863,000 after purchasing an additional 68,268 shares during the period. Finally, Gamco Investors INC. ET AL boosted its position in Avangrid by 10.7% during the third quarter. Gamco Investors INC. ET AL now owns 411,508 shares of the utilities provider’s stock worth $12,415,000 after purchasing an additional 39,937 shares in the last quarter. Hedge funds and other institutional investors own 13.12% of the company’s stock.

About Avangrid

(Get Free Report)

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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