Avangrid (NYSE:AGR) Sees Unusually-High Trading Volume

Avangrid, Inc. (NYSE:AGR - Get Free Report) shares saw unusually-high trading volume on Monday . Approximately 590,050 shares changed hands during trading, a decline of 34% from the previous session's volume of 897,270 shares.The stock last traded at $35.83 and had previously closed at $35.84.

Analyst Ratings Changes

AGR has been the topic of several analyst reports. Wells Fargo & Company increased their price objective on Avangrid from $34.00 to $35.00 and gave the company an "equal weight" rating in a research note on Friday, February 23rd. Janney Montgomery Scott reiterated a "sell" rating and issued a $35.00 price objective on shares of Avangrid in a research note on Friday, March 8th. Finally, StockNews.com upgraded Avangrid from a "sell" rating to a "hold" rating in a research note on Friday, February 23rd. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $34.75.

Avangrid Stock Up 0.6 %

The stock has a market cap of $13.95 billion, a PE ratio of 15.61, a price-to-earnings-growth ratio of 2.68 and a beta of 0.55. The firm has a fifty day moving average of $36.28 and a 200 day moving average of $33.38. The company has a quick ratio of 0.50, a current ratio of 0.58 and a debt-to-equity ratio of 0.47.

Avangrid (NYSE:AGR - Get Free Report) last posted its earnings results 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 firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.54 billion. Avangrid had a return on equity of 4.35% and a net margin of 10.80%. Avangrid's revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.64 earnings per share. On average, equities research analysts anticipate that Avangrid, Inc. will post 2.23 EPS for the current fiscal year.

Avangrid Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 4.88%. The ex-dividend date is Monday, June 3rd. Avangrid's dividend payout ratio (DPR) is presently 76.19%.

Hedge Funds Weigh In On Avangrid

Several large investors have recently bought and sold shares of AGR. Clean Energy Transition LLP purchased a new position in Avangrid in the fourth quarter valued at $75,620,000. Norges Bank purchased a new position in shares of Avangrid during the fourth quarter worth about $30,303,000. Mackenzie Financial Corp grew its holdings in shares of Avangrid by 20.5% during the fourth quarter. Mackenzie Financial Corp now owns 1,917,324 shares of the utilities provider's stock worth $62,140,000 after purchasing an additional 326,084 shares during the last quarter. Natixis grew its holdings in shares of Avangrid by 3,122.3% during the first quarter. Natixis now owns 166,432 shares of the utilities provider's stock worth $6,065,000 after purchasing an additional 161,267 shares during the last quarter. Finally, Hsbc Holdings PLC grew its holdings in shares of Avangrid by 65.1% during the fourth quarter. Hsbc Holdings PLC now owns 373,093 shares of the utilities provider's stock worth $12,088,000 after purchasing an additional 147,108 shares during the last quarter. Hedge funds and other institutional investors own 13.12% of the company's stock.

Avangrid Company Profile

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.