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

Several other equities research analysts have also commented on AGR. Evercore ISI upgraded shares of Avangrid from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $43.50 to $46.50 in a research report on Monday, July 24th. J P Morgan Chase & Co boosted their target price on shares of Avangrid from $43.00 to $47.00 and gave the stock an “underweight” rating in a research report on Thursday. Two analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $46.38.

Shares of Avangrid (NYSE AGR) opened at 47.99 on Friday. The stock has a market capitalization of $14.83 billion, a P/E ratio of 22.00 and a beta of 0.48. Avangrid has a one year low of $35.42 and a one year high of $49.04. The company’s 50-day moving average is $47.73 and its 200-day moving average is $45.54.

Avangrid (NYSE:AGR) last issued its earnings results on Wednesday, July 19th. The utilities provider reported $0.46 EPS for the quarter, topping the consensus estimate of $0.40 by $0.06. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.43 billion. Avangrid had a net margin of 11.25% and a return on equity of 4.52%. The business’s revenue was down 7.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.33 EPS. On average, equities research analysts anticipate that Avangrid will post $2.22 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently modified their holdings of AGR. Russell Investments Group Ltd. boosted its position in shares of Avangrid by 241.2% during the 1st quarter. Russell Investments Group Ltd. now owns 8,093 shares of the utilities provider’s stock worth $345,000 after purchasing an additional 5,721 shares in the last quarter. US Bancorp DE boosted its position in shares of Avangrid by 106.3% in the 1st quarter. US Bancorp DE now owns 2,863 shares of the utilities provider’s stock worth $122,000 after buying an additional 1,475 shares in the last quarter. UBS Asset Management Americas Inc. boosted its position in shares of Avangrid by 151.0% in the 1st quarter. UBS Asset Management Americas Inc. now owns 27,403 shares of the utilities provider’s stock worth $1,171,000 after buying an additional 16,485 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Avangrid by 66.5% in the 1st quarter. Ameriprise Financial Inc. now owns 28,055 shares of the utilities provider’s stock worth $1,199,000 after buying an additional 11,208 shares in the last quarter. Finally, Parametric Portfolio Associates LLC boosted its position in shares of Avangrid by 59.0% in the 1st quarter. Parametric Portfolio Associates LLC now owns 134,927 shares of the utilities provider’s stock worth $5,767,000 after buying an additional 50,049 shares in the last quarter. Institutional investors own 13.22% of the company’s stock.

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.

Analyst Recommendations for Avangrid (NYSE:AGR)

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