Zacks Investment Research downgraded shares of Avangrid, Inc. (NYSE:AGR) from a hold rating to a sell rating in a research report report published 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 research analysts also recently commented on AGR. Evercore ISI raised shares of Avangrid from an in-line rating to an outperform rating and upped their price objective for the company from $43.50 to $46.50 in a research note on Monday, July 24th. J P Morgan Chase & Co upped their price objective 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. Two investment analysts have rated the stock with a sell rating and four have given a buy rating to the company. Avangrid has a consensus rating of Hold and an average price target of $46.38.

Avangrid (AGR) opened at 47.78 on Friday. The firm’s 50-day moving average is $47.73 and its 200 day moving average is $45.56. Avangrid has a 52 week low of $35.42 and a 52 week high of $49.04. The stock has a market cap of $14.76 billion, a price-to-earnings ratio of 21.91 and a beta of 0.49.

Avangrid (NYSE:AGR) last posted its quarterly earnings data on Wednesday, July 19th. The utilities provider reported $0.46 EPS for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.06. Avangrid had a net margin of 11.25% and a return on equity of 4.52%. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the prior year, the company posted $0.33 EPS. The company’s quarterly revenue was down 7.5% compared to the same quarter last year. On average, equities research analysts expect that Avangrid will post $2.22 EPS for the current year.

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Several large investors have recently modified their holdings of AGR. US Bancorp DE grew its holdings in shares of Avangrid by 106.3% during the 1st quarter. US Bancorp DE now owns 2,863 shares of the utilities provider’s stock worth $122,000 after purchasing an additional 1,475 shares during the period. Proficio Capital Partners LLC grew its holdings in shares of Avangrid by 102.2% during the 2nd quarter. Proficio Capital Partners LLC now owns 2,704 shares of the utilities provider’s stock worth $124,000 after purchasing an additional 1,367 shares during the period. First Personal Financial Services grew its holdings in shares of Avangrid by 3.4% during the 2nd quarter. First Personal Financial Services now owns 2,862 shares of the utilities provider’s stock worth $126,000 after purchasing an additional 94 shares during the period. Parallel Advisors LLC grew its holdings in shares of Avangrid by 20.1% during the 2nd quarter. Parallel Advisors LLC now owns 3,265 shares of the utilities provider’s stock worth $148,000 after purchasing an additional 546 shares during the period. Finally, Stifel Financial Corp purchased a new stake in shares of Avangrid during the 2nd quarter worth about $242,000. Institutional investors and hedge funds own 13.22% of the company’s stock.

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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