Avangrid, Inc. (NYSE:AGR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Friday.
According to Zacks, “Avangrid, Inc. is an energy and utility company. The company operates regulated utilities, electricity generation and natural gas storage primarily in the United States. Avangrid, Inc. is based in New Gloucester, United States. “
Other research analysts have also recently issued reports about the stock. J P Morgan Chase & Co increased their target price on shares of Avangrid from $43.00 to $47.00 and gave the company an “underweight” rating in a report on Thursday. Evercore ISI raised shares of Avangrid from an “in-line” rating to an “outperform” rating and increased their target price for the company from $43.50 to $46.50 in a report on Monday, July 24th. Two investment analysts have rated the stock with a sell rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $46.38.
Avangrid (NYSE AGR) traded down 0.83% during midday trading on Friday, hitting $47.99. The stock had a trading volume of 404,420 shares. The stock has a market cap of $14.83 billion, a price-to-earnings ratio of 22.00 and a beta of 0.48. The stock has a 50 day moving average of $47.77 and a 200 day moving average of $45.49. Avangrid has a 12 month low of $35.42 and a 12 month high of $49.04.
Avangrid (NYSE:AGR) last issued its earnings results on Wednesday, July 19th. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.06. Avangrid had a net margin of 11.25% and a return on equity of 4.52%. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same period last year, the company posted $0.33 earnings per share. The firm’s quarterly revenue was down 7.5% compared to the same quarter last year. Analysts expect that Avangrid will post $2.23 EPS for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in the company. MML Investors Services LLC grew its position in shares of Avangrid by 0.5% in the second quarter. MML Investors Services LLC now owns 7,288 shares of the utilities provider’s stock valued at $322,000 after purchasing an additional 39 shares during the last quarter. Dynamic Advisors Solutions LLC grew its position in shares of Avangrid by 1.0% in the second quarter. Dynamic Advisors Solutions LLC now owns 7,173 shares of the utilities provider’s stock valued at $317,000 after purchasing an additional 71 shares during the last quarter. First Personal Financial Services grew its position in shares of Avangrid by 3.4% in the second quarter. First Personal Financial Services now owns 2,862 shares of the utilities provider’s stock valued at $126,000 after purchasing an additional 94 shares during the last quarter. Aviva PLC grew its position in shares of Avangrid by 0.3% in the second quarter. Aviva PLC now owns 36,456 shares of the utilities provider’s stock valued at $1,610,000 after purchasing an additional 110 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its position in shares of Avangrid by 2.0% in the second quarter. Janney Montgomery Scott LLC now owns 7,012 shares of the utilities provider’s stock valued at $310,000 after purchasing an additional 138 shares during the last quarter. Institutional investors and hedge funds own 13.22% of the company’s stock.
Avangrid, Inc is an energy and utility company. The Company operates through three segments: Networks, Renewables and Gas. The Networks segment includes all the energy transmission and distribution activities, and any other regulated activity originating in New York and Maine, and regulated electric distribution, electric transmission and gas distribution activities originating in Connecticut and Massachusetts.
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