AGL Resources (AGL) Downgraded from Buy to Neutral at UBS

AGL Resources (AGL) has been downgraded by UBS from a former Buy rating to Neutral.  UBS has set a price target of $42 dollars on the company.

AGL Resources is slated to have their next earnings release on Aug 2, 2011.  Shares of AGL are currently trading above its 50 & 200 day moving averages with support located at the $40.22 price level.  AGL is currently trading with a yearly gain overall for 2011.

The company has a market cap of about $3,142,000,000 and 78,258,000 shares outstanding.

AGL Resources (AGL) is an energy services holding company whose principal business is the distribution of natural gas in six states – Florida, Georgia, Maryland, New Jersey, Tennessee and Virginia.  Their six utilities serve approximately 2.3 million end-use customers. They are involved in several related and complementary businesses, including retail natural gas marketing to end-use customers in Georgia, Ohio and Florida; natural gas asset management and related logistics activities for each of their utilities as well as for non-affiliated companies; natural gas storage arbitrage and related activities; and the development and operation of high-deliverability natural gas storage assets.

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