Avangrid (NYSE:AGR) was downgraded by stock analysts at Janney Montgomery Scott from a “neutral” rating to a “sell” rating in a note issued to investors on Thursday, The Fly reports. They currently have a $46.00 target price on the utilities provider’s stock, down from their previous target price of $50.00. Janney Montgomery Scott’s price objective suggests a potential downside of 10.30% from the stock’s current price.

A number of other research firms have also recently commented on AGR. Macquarie cut Avangrid from an “outperform” rating to a “neutral” rating and set a $49.50 price target on the stock. in a research note on Monday, March 4th. Zacks Investment Research upgraded Avangrid from a “sell” rating to a “hold” rating in a research note on Thursday, January 10th. Goldman Sachs Group cut Avangrid from a “neutral” rating to a “sell” rating in a research note on Wednesday, January 30th. ValuEngine cut Avangrid from a “buy” rating to a “hold” rating in a research note on Friday, February 15th. Finally, Bank of America cut Avangrid from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $54.00 to $53.00 in a research note on Wednesday, February 20th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $52.25.

NYSE:AGR traded down $1.35 during trading hours on Thursday, reaching $51.28. 1,164,547 shares of the stock were exchanged, compared to its average volume of 437,445. The company has a quick ratio of 0.58, a current ratio of 0.65 and a debt-to-equity ratio of 0.35. Avangrid has a twelve month low of $45.81 and a twelve month high of $54.55. The stock has a market capitalization of $16.18 billion, a price-to-earnings ratio of 23.20, a price-to-earnings-growth ratio of 2.91 and a beta of 0.08.

Avangrid (NYSE:AGR) last released its quarterly earnings results on Wednesday, April 24th. The utilities provider reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.09). Avangrid had a return on equity of 4.43% and a net margin of 9.18%. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same quarter last year, the company earned $0.78 earnings per share. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, sell-side analysts expect that Avangrid will post 2.3 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the business. FNY Investment Advisers LLC purchased a new position in shares of Avangrid during the first quarter worth about $25,000. First Hawaiian Bank grew its holdings in shares of Avangrid by 355.8% during the fourth quarter. First Hawaiian Bank now owns 588 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 459 shares during the last quarter. Essex Savings Bank purchased a new position in shares of Avangrid during the fourth quarter worth about $30,000. ERTS Wealth Advisors LLC purchased a new position in shares of Avangrid during the fourth quarter worth about $34,000. Finally, Bremer Trust National Association purchased a new position in shares of Avangrid during the fourth quarter worth about $49,000. 14.80% of the stock is currently owned by institutional investors.

Avangrid Company Profile

Avangrid, Inc operates as an energy services holding company in the United States. It operates through two segments, Networks and Renewables. The company engages in the generation, transmission, and distribution of electricity, as well as distribution, transportation, and sale of natural gas. It also develops, constructs, and operates renewable energy generation facilities primarily using onshore wind power, as well as solar, biomass, and thermal power.

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Analyst Recommendations for Avangrid (NYSE:AGR)

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