Zacks Investment Research Downgrades Avangrid (AGR) to Sell

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

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. “

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AGR has been the subject of a number of other research reports. Wells Fargo reaffirmed a “market perform” rating and issued a $51.00 price objective (down previously from $54.00) on shares of Avangrid in a research note on Wednesday, February 21st. Guggenheim set a $55.00 price objective on shares of Avangrid and gave the company a “buy” rating in a research note on Thursday, February 15th. ValuEngine raised shares of Avangrid from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Bank of America reaffirmed a “buy” rating and issued a $50.50 price objective (down previously from $54.00) on shares of Avangrid in a research note on Thursday. Finally, TheStreet raised shares of Avangrid from a “c” rating to a “b-” rating in a research report on Monday, December 18th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $49.80.

Shares of Avangrid stock traded down $0.79 during trading on Thursday, reaching $49.71. The company’s stock had a trading volume of 447,822 shares, compared to its average volume of 543,204. Avangrid has a 52-week low of $43.13 and a 52-week high of $53.46. The stock has a market capitalization of $15,558.42, a price-to-earnings ratio of 22.60, a price-to-earnings-growth ratio of 2.31 and a beta of 0.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.66 and a current ratio of 0.73.

Avangrid (NYSE:AGR) last announced its quarterly earnings data on Tuesday, February 20th. The utilities provider reported $0.61 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.61. Avangrid had a net margin of 6.39% and a return on equity of 4.48%. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the prior year, the company earned $0.67 EPS. The firm’s revenue was up 2.8% on a year-over-year basis. equities research analysts forecast that Avangrid will post 2.37 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Advisor Group Inc. boosted its position in Avangrid by 56.6% during the 4th quarter. Advisor Group Inc. now owns 3,071 shares of the utilities provider’s stock valued at $154,000 after buying an additional 1,110 shares during the period. Csenge Advisory Group raised its holdings in Avangrid by 24.7% in the 4th quarter. Csenge Advisory Group now owns 7,160 shares of the utilities provider’s stock worth $362,000 after purchasing an additional 1,420 shares in the last quarter. Harrington Investments INC raised its holdings in Avangrid by 30.4% in the 4th quarter. Harrington Investments INC now owns 6,202 shares of the utilities provider’s stock worth $314,000 after purchasing an additional 1,445 shares in the last quarter. Signature Estate & Investment Advisors LLC raised its holdings in Avangrid by 11.6% in the 4th quarter. Signature Estate & Investment Advisors LLC now owns 14,103 shares of the utilities provider’s stock worth $713,000 after purchasing an additional 1,469 shares in the last quarter. Finally, AMP Capital Investors Ltd raised its holdings in Avangrid by 5.2% in the 3rd quarter. AMP Capital Investors Ltd now owns 30,435 shares of the utilities provider’s stock worth $1,443,000 after purchasing an additional 1,500 shares in the last quarter. 14.28% of the stock is owned by institutional investors and hedge funds.

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About Avangrid

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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