Avangrid (AGR) Rating Increased to Hold at Zacks Investment Research

Avangrid (NYSE:AGR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Monday.

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. “

AGR has been the topic of a number of other research reports. TheStreet raised shares of Avangrid from a “c” rating to a “b-” rating in a research note on Monday, December 18th. Wells Fargo & Co downgraded shares of Avangrid from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 1st. Goldman Sachs Group began coverage on shares of Avangrid in a research note on Wednesday, January 10th. They set a “buy” rating on the stock. Bank of America began coverage on shares of Avangrid in a research note on Tuesday, October 24th. They set a “buy” rating and a $52.00 price target on the stock. Finally, JPMorgan Chase & Co. upped their price target on shares of Avangrid from $43.00 to $47.00 and gave the company an “underweight” rating in a research note on Thursday, October 12th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. Avangrid currently has an average rating of “Hold” and a consensus price target of $48.63.

Avangrid (NYSE AGR) traded down $0.15 during trading on Monday, reaching $47.65. 264,100 shares of the company were exchanged, compared to its average volume of 503,692. The stock has a market capitalization of $14,724.10, a P/E ratio of 22.16, a price-to-earnings-growth ratio of 2.40 and a beta of 0.56. The company has a current ratio of 0.69, a quick ratio of 0.56 and a debt-to-equity ratio of 0.31. Avangrid has a 52 week low of $37.42 and a 52 week high of $53.46.

Avangrid (NYSE:AGR) last released its quarterly earnings results on Tuesday, October 24th. The utilities provider reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.03. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. Avangrid had a net margin of 11.23% and a return on equity of 4.60%. Avangrid’s revenue was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.35 earnings per share. sell-side analysts anticipate that Avangrid will post 2.2 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Ffcm LLC purchased a new stake in shares of Avangrid in the third quarter valued at $134,000. State of Alaska Department of Revenue purchased a new stake in shares of Avangrid in the fourth quarter valued at $166,000. McKinley Carter Wealth Services Inc. purchased a new stake in shares of Avangrid in the third quarter valued at $207,000. Joel Isaacson & Co. LLC purchased a new stake in shares of Avangrid in the third quarter valued at $212,000. Finally, Harrington Investments INC purchased a new stake in shares of Avangrid in the third quarter valued at $226,000. 13.83% of the stock is currently owned by institutional investors and hedge funds.

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Avangrid Company Profile

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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