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Avangrid (NYSE:AGR) Research Coverage Started at Mizuho

Tuesday, May 4, 2021 | MarketBeat

Analysts at Mizuho started coverage on shares of Avangrid (NYSE:AGR) in a report released on Tuesday, Benzinga reports. The brokerage set a "neutral" rating and a $52.00 price target on the utilities provider's stock. Mizuho's target price points to a potential upside of 2.04% from the company's previous close.

AGR has been the subject of a number of other reports. Janney Montgomery Scott upgraded shares of Avangrid from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $45.00 to $55.00 in a research report on Thursday, February 25th. Zacks Investment Research upgraded shares of Avangrid from a "sell" rating to a "hold" rating in a research report on Friday, February 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. Avangrid has an average rating of "Hold" and a consensus price target of $53.00.

Shares of NYSE:AGR opened at $50.96 on Tuesday. The firm has a 50 day moving average of $50.42 and a 200-day moving average of $48.02. The stock has a market capitalization of $15.77 billion, a PE ratio of 24.74, a PEG ratio of 4.35 and a beta of 0.21. The company has a current ratio of 0.46, a quick ratio of 0.40 and a debt-to-equity ratio of 0.45. Avangrid has a 12 month low of $38.78 and a 12 month high of $56.20.

Avangrid (NYSE:AGR) last issued its earnings results on Sunday, May 2nd. The utilities provider reported $1.14 EPS for the quarter, beating the consensus estimate of $0.74 by $0.40. The company had revenue of $1.97 billion during the quarter, compared to analysts' expectations of $1.82 billion. Avangrid had a net margin of 10.19% and a return on equity of 4.20%. The business's revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.76 EPS. On average, research analysts predict that Avangrid will post 1.97 EPS for the current fiscal year.

Several large investors have recently bought and sold shares of the company. Schonfeld Strategic Advisors LLC acquired a new position in shares of Avangrid during the 3rd quarter valued at $690,000. Van ECK Associates Corp lifted its position in shares of Avangrid by 24.4% during the 3rd quarter. Van ECK Associates Corp now owns 5,116 shares of the utilities provider's stock valued at $258,000 after acquiring an additional 1,004 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in shares of Avangrid during the 3rd quarter valued at $232,000. New England Research & Management Inc. lifted its position in shares of Avangrid by 97.0% during the 4th quarter. New England Research & Management Inc. now owns 19,993 shares of the utilities provider's stock valued at $909,000 after acquiring an additional 9,843 shares during the period. Finally, Harrington Investments INC raised its holdings in Avangrid by 4.9% during the fourth quarter. Harrington Investments INC now owns 11,245 shares of the utilities provider's stock worth $511,000 after buying an additional 530 shares during the last quarter. 13.74% of the stock is currently owned by institutional investors.

Avangrid Company Profile

Avangrid, Inc operates as an energy services holding company in the United States. It operates through two segments, Networks and Renewables. The company engages in the generation, transmission, and distribution of electricity, as well as distribution, transportation, and sale of natural gas. It also develops, constructs, and operates renewable energy generation facilities primarily using onshore wind power, as well as solar, biomass, and thermal power.

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Analyst Recommendations for Avangrid (NYSE:AGR)

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