Atlas Infrastructure Partners recently announced the acquisition of new stake in Avangrid Inc (NYSE:AGR). The institutional investor has increased its shareholding in the Utilities company by 22.84% to 6.27 million shares with purchase of 1.17 million shares. This fresh investment now brings its stake to 1.62% valued currently at $193.51 million. In addition, First Trust Advisors LP raised its holdings by 0.11 million to 2.42 million shares. And Mackenzie Financial Corp. has lifted its position by 25.11% or 0.32 million shares – to 1.59 million shares.
With over 0.46 million Avangrid Inc (AGR) shares trading Friday and a closing price of $32.41 on the day, the dollar volume was approximately $15.02 million. The shares have shown a negative half year performance of -13.99% and its price on 12/29/23 lost nearly -1.10%. Currently, there are 386.63M common shares owned by the public and among those 70.88M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 8 analysts who have offered their price forecasts for AGR have a consensus price objective of $35.86. The analysts have set the share’s price value over the next 12 months at a high of $52.00 and a low of $30.00. The average price target is 9.62% above its recent price level and a downside to the estimated low will see the stock lose -8.03% over that period. But an upside of 37.67% will see the stock hit the forecast high price target while median target price for the stock is $34.00.
Insiders at the company have transacted a total of 22 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 13 of these insider trades were purchases, accounting for 67,106 shares. Insider sales of the common stock occurred on 9 occasions, with total insider shares sold totaling 31,999 shares.
The top 3 mutual fund holders in Avangrid Inc are Vanguard Total Stock Market ETF, ATLAS Global Infrastructure Fund, and Vanguard Mid Cap Index Fund. Vanguard Total Stock Market ETF owns 2.5 million shares of the company’s stock, all valued at over $77.05 million. The company bought an additional 6472.0 shares recently to bring their total holdings to about 0.65% of the shares outstanding. ATLAS Global Infrastructure Fund bought 0.67 million shares to see its total holdings expand to 2.34 million shares valued at over $72.33 million and representing 0.61% of the shares outstanding. Vanguard Mid Cap Index Fund bought 7084.0 shares to bring its total holdings to over 1.76 million shares at a value of $54.39 million. Vanguard Mid Cap Index Fund now owns shares totaling to 0.46% of the shares outstanding.
Shares of Avangrid Inc (NYSE: AGR) opened at $32.53, down -$0.24 from a prior closing price of $32.77. However, the script later moved the day high at 32.67, down -1.10%. The company’s stock has a 5-day price change of -0.03% and 7.42% over the past three months. AGR shares are trading -24.59% year to date (YTD), with the 12-month market performance down to -24.59% lower. It has a 12-month low price of $27.46 and touched a high of $44.77 over the same period. AGR has an average intraday trading volume of 1.16 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.23%, 3.32%, and -8.67% respectively.
Institutional ownership of Avangrid Inc (NYSE: AGR) shares accounts for 13.40% of the company’s 386.63M shares outstanding. Mutual fund holders own 7.15%, while other institutional holders and individual stakeholders account for 81.96% and 6.32% respectively.
It has a market capitalization of $12.54B and a beta (3y monthly) value of 0.53. The stock’s trailing 12-month PE ratio is 23.41, while the earnings-per-share (ttm) stands at $1.38. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.52% over the week and 2.18% over the month.
Analysts forecast that Avangrid Inc (AGR) will achieve an EPS of $0.96 for the current quarter, $0.72 for the next quarter and $2.28 for 2024. The lowest estimate earnings-per-share for the quarter is $0.8 while analysts give the company a high EPS estimate of $1.02. Comparatively, EPS for the current quarter was $0.39 a year ago. Earnings per share for the fiscal year are expected to decrease by -9.66%, and 8.43% over the next financial year. EPS should shrink at an annualized rate of -1.40% over the next five years, compared to 13.08% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 8 brokerage firm advisors rate Avangrid Inc (AGR) as a “Hold” at a consensus score of 3.25. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 5 of the 8 advise that investors “hold,” and 2 rated it as a “Sell.”
