Avangrid (NYSE:AGR) Now Covered by Citigroup

Equities research analysts at Citigroup started coverage on shares of Avangrid (NYSE:AGR) in a report released on Friday, April 13th, MarketBeat reports. The brokerage set a “buy” rating and a $58.00 price target on the utilities provider’s stock. Citigroup’s price objective indicates a potential upside of 13.57% from the stock’s current price.

Several other research firms have also issued reports on AGR. JPMorgan Chase increased their target price on shares of Avangrid from $44.00 to $46.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 10th. Gabelli reissued a “buy” rating on shares of Avangrid in a research note on Wednesday, February 21st. Goldman Sachs started coverage on shares of Avangrid in a research note on Wednesday, January 10th. They set a “buy” rating on the stock. Zacks Investment Research lowered shares of Avangrid from a “hold” rating to a “sell” rating in a research note on Tuesday, December 26th. Finally, TheStreet raised shares of Avangrid from a “c” rating to a “b-” rating in a research note on Monday, December 18th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $51.75.

Shares of AGR opened at $51.07 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.66 and a current ratio of 0.73. Avangrid has a fifty-two week low of $43.13 and a fifty-two week high of $53.46. The stock has a market cap of $15,675.84, a price-to-earnings ratio of 23.21, a P/E/G ratio of 2.33 and a beta of 0.18.



Avangrid (NYSE:AGR) last posted its earnings results on Monday, April 23rd. The utilities provider reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.02). Avangrid had a return on equity of 4.48% and a net margin of 6.39%. The firm had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the previous year, the company earned $0.77 earnings per share. The company’s revenue was up 6.1% compared to the same quarter last year. analysts expect that Avangrid will post 2.37 EPS for the current year.

A number of institutional investors have recently modified their holdings of the stock. Advisor Group Inc. lifted its stake in Avangrid by 56.6% in the 4th 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 in the last quarter. Csenge Advisory Group lifted its stake in Avangrid by 24.7% in the 4th quarter. Csenge Advisory Group now owns 7,160 shares of the utilities provider’s stock valued at $362,000 after buying an additional 1,420 shares in the last quarter. Harrington Investments INC lifted its stake in Avangrid by 30.4% in the 4th quarter. Harrington Investments INC now owns 6,202 shares of the utilities provider’s stock valued at $314,000 after buying an additional 1,445 shares in the last quarter. Signature Estate & Investment Advisors LLC lifted its stake in Avangrid by 11.6% in the 4th quarter. Signature Estate & Investment Advisors LLC now owns 14,103 shares of the utilities provider’s stock valued at $713,000 after buying an additional 1,469 shares in the last quarter. Finally, AMP Capital Investors Ltd lifted its stake in Avangrid by 5.2% in the 3rd quarter. AMP Capital Investors Ltd now owns 30,435 shares of the utilities provider’s stock valued at $1,443,000 after buying an additional 1,500 shares in the last quarter. 14.30% of the stock is currently owned by hedge funds and other institutional investors.

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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. As of December 31, 2017, the company delivered electricity to approximately 2.2 million electric utility customers, as well as natural gas to approximately 1 million natural gas public utility customers; and owned approximately 67.5 billion cubic feet of net working gas storage capacity.

Analyst Recommendations for Avangrid (NYSE:AGR)

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