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

Avangrid, Inc. (NYSE:AGR) saw an uptick in trading volume on Monday . 590,050 shares were traded 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.

Wall Street Analyst Weigh In

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

Avangrid Stock Down 0.2 %

The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.50 and a current ratio of 0.58. The firm has a market capitalization of $13.92 billion, a P/E ratio of 15.58, a P/E/G ratio of 2.69 and a beta of 0.55. The stock has a fifty day moving average price of $36.28 and a two-hundred day moving average price of $33.41.

Avangrid (NYSE:AGR) last issued its quarterly earnings data on Wednesday, April 24th. The utilities provider reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.54 billion. Avangrid had a return on equity of 4.35% and a net margin of 10.80%. The firm’s revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.64 EPS. Research analysts forecast that Avangrid, Inc. will post 2.23 EPS for the current year.

Avangrid Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date of this dividend is Monday, June 3rd. Avangrid’s dividend payout ratio is presently 76.19%.

Institutional Trading of Avangrid

A number of hedge funds have recently bought and sold shares of AGR. Headlands Technologies LLC purchased a new stake in Avangrid during the first quarter valued at about $26,000. Robeco Institutional Asset Management B.V. lifted its position in shares of Avangrid by 2,285.5% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 96,754 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 92,698 shares in the last quarter. Bell Investment Advisors Inc lifted its position in shares of Avangrid by 163.9% in the first quarter. Bell Investment Advisors Inc now owns 863 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 536 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of Avangrid in the first quarter worth approximately $36,000. Finally, BKM Wealth Management LLC purchased a new stake in shares of Avangrid in the fourth quarter worth approximately $41,000. 13.12% of the stock is owned by hedge funds and other institutional investors.

About Avangrid

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.