Analyst Price Forecast Suggests 10.76% Upside
As of June 1, 2023, the average one-year price target for Avangrid is 41.97. The forecasts range from a low of 34.34 to a high of $54.60. The average price target represents an increase of 10.76% from its latest reported closing price of 37.89.
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The projected annual revenue for Avangrid is 7,710MM, a decrease of 6.61%. The projected annual non-GAAP EPS is 2.32.
Avangrid Declares $0.44 Dividend
On April 12, 2023 the company declared a regular quarterly dividend of $0.44 per share ($1.76 annualized). Shareholders of record as of June 1, 2023 will receive the payment on July 3, 2023. Previously, the company paid $0.44 per share.
At the current share price of $37.89 / share, the stock’s dividend yield is 4.65%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.70%, the lowest has been 3.11%, and the highest has been 4.87%. The standard deviation of yields is 0.35 (n=235).
The current dividend yield is 2.72 standard deviations above the historical average.
What is the Fund Sentiment?
There are 596 funds or institutions reporting positions in Avangrid. This is a decrease of 18 owner(s) or 2.93% in the last quarter. Average portfolio weight of all funds dedicated to AGR is 0.18%, a decrease of 13.08%. Total shares owned by institutions increased in the last three months by 2.50% to 54,087K shares. The put/call ratio of AGR is 0.59, indicating a bullish outlook.
What are Other Shareholders Doing?
ATLAS Infrastructure Partners holds 4,533K shares representing 1.17% ownership of the company. In it’s prior filing, the firm reported owning 2,233K shares, representing an increase of 50.75%. The firm increased its portfolio allocation in AGR by 103,007.07% over the last quarter.
Royal Bank Of Canada holds 3,738K shares representing 0.97% ownership of the company. In it’s prior filing, the firm reported owning 3,708K shares, representing an increase of 0.79%. The firm decreased its portfolio allocation in AGR by 89.96% over the last quarter.
Wellington Management Group Llp holds 2,802K shares representing 0.72% ownership of the company. In it’s prior filing, the firm reported owning 3,187K shares, representing a decrease of 13.72%. The firm decreased its portfolio allocation in AGR by 88.62% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 2,421K shares representing 0.63% ownership of the company. In it’s prior filing, the firm reported owning 2,375K shares, representing an increase of 1.90%. The firm decreased its portfolio allocation in AGR by 12.66% over the last quarter.
First Trust Advisors holds 2,267K shares representing 0.59% ownership of the company. In it’s prior filing, the firm reported owning 2,035K shares, representing an increase of 10.23%. The firm increased its portfolio allocation in AGR by 0.21% over the last quarter.
Avangrid Background Information
(This description is provided by the company.)
AVANGRID, Inc. is a leading, sustainable energy company with approximately $36 billion in assets and operations in 24 U.S. states. With headquarters in Orange, Connecticut, AVANGRID has two primary lines of business: Avangrid Networks and Avangrid Renewables. Avangrid Networks owns eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Avangrid Renewables owns and operates a portfolio of renewable energy generation facilities across the United States. AVANGRID employs approximately 6,600 people. AVANGRID supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2019 and 2020 by the Ethisphere Institute.
Key filings for this company:
This story originally appeared on Fintel.
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