Avangrid Inc. (AGR) Rating Lowered to Sell at Zacks Investment Research
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. “
A number of other equities analysts also recently weighed in on the stock. JPMorgan Chase & Co. downgraded shares of Avangrid from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $44.00 to $41.00 in a research note on Friday, September 23rd. Guggenheim began coverage on shares of Avangrid in a research note on Thursday, September 8th. They set a “neutral” rating on the stock. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Avangrid has a consensus rating of “Hold” and a consensus price target of $41.75.
Avangrid (NYSE:AGR) opened at 41.14 on Friday. The firm’s 50-day moving average is $42.37 and its 200 day moving average is $42.30. The stock has a market cap of $12.71 billion and a P/E ratio of 25.12. Avangrid has a one year low of $32.45 and a one year high of $46.74.
Avangrid (NYSE:AGR) last posted its quarterly earnings results on Monday, July 18th. The company reported $0.32 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.43 by $0.11. Avangrid had a return on equity of 3.07% and a net margin of 8.74%. On average, analysts anticipate that Avangrid will post $2.12 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Friday, September 9th were paid a $0.432 dividend. This represents a $1.73 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date of this dividend was Wednesday, September 7th.
Large investors have recently added to or reduced their stakes in the stock. Sei Investments Co. raised its stake in Avangrid by 7.6% in the second quarter. Sei Investments Co. now owns 3,077 shares of the company’s stock worth $142,000 after buying an additional 218 shares during the last quarter. Legal & General Group Plc raised its stake in Avangrid by 39.7% in the second quarter. Legal & General Group Plc now owns 5,892 shares of the company’s stock worth $272,000 after buying an additional 1,674 shares during the last quarter. Sigma Planning Corp raised its stake in Avangrid by 6.8% in the second quarter. Sigma Planning Corp now owns 6,141 shares of the company’s stock worth $283,000 after buying an additional 390 shares during the last quarter. BlackRock Inc. raised its stake in Avangrid by 176.6% in the first quarter. BlackRock Inc. now owns 7,713 shares of the company’s stock worth $310,000 after buying an additional 4,924 shares during the last quarter. Finally, M&T Bank Corp raised its stake in Avangrid by 4.1% in the first quarter. M&T Bank Corp now owns 7,977 shares of the company’s stock worth $319,000 after buying an additional 317 shares during the last quarter. 13.06% of the stock is owned by institutional investors and hedge funds.
Avangrid, Inc is a diversified energy and utility company with more than $30 billion in assets and operations in 25 states. The company operates regulated utilities and electricity generation through two primary lines of business. Avangrid Networks includes eight electric and natural gas utilities, serving approximately 3.1 million customers in New York and New England.
Receive News & Stock Ratings for Avangrid Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avangrid Inc. and related stocks with our FREE daily email newsletter.