Avangrid (NYSE:AGR) was downgraded by Goldman Sachs Group from a “buy” rating to a “neutral” rating in a report released on Sunday, The Fly reports. They presently have a $50.00 target price on the utilities provider’s stock. Goldman Sachs Group’s price target would indicate a potential upside of 5.75% from the company’s current price.
Several other equities analysts have also commented on the company. Zacks Investment Research lowered Avangrid from a “hold” rating to a “sell” rating in a report on Monday, October 8th. TheStreet lowered Avangrid from a “b” rating to a “c+” rating in a report on Thursday, October 4th. Wells Fargo & Co increased their target price on Avangrid from $54.00 to $55.00 and gave the company a “market perform” rating in a report on Monday, September 17th. Wolfe Research lowered Avangrid from a “peer perform” rating to an “underperform” rating in a report on Monday, August 13th. Finally, Bank of America dropped their target price on Avangrid from $58.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, July 25th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $53.89.
NYSE:AGR traded down $0.32 during trading hours on Friday, hitting $47.28. The company’s stock had a trading volume of 62,679 shares, compared to its average volume of 547,464. The firm has a market capitalization of $14.71 billion, a PE ratio of 21.49, a price-to-earnings-growth ratio of 2.41 and a beta of 0.06. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.73 and a quick ratio of 0.64. Avangrid has a 52-week low of $45.17 and a 52-week high of $54.55.
Several hedge funds have recently modified their holdings of AGR. Millennium Management LLC purchased a new position in shares of Avangrid during the second quarter worth about $18,368,000. Renaissance Technologies LLC grew its holdings in shares of Avangrid by 75.1% during the second quarter. Renaissance Technologies LLC now owns 743,800 shares of the utilities provider’s stock worth $39,369,000 after purchasing an additional 318,900 shares during the last quarter. Allianz Asset Management GmbH grew its holdings in shares of Avangrid by 88.6% during the first quarter. Allianz Asset Management GmbH now owns 662,675 shares of the utilities provider’s stock worth $33,876,000 after purchasing an additional 311,374 shares during the last quarter. Daiwa SB Investments Ltd. grew its holdings in shares of Avangrid by 94.8% during the third quarter. Daiwa SB Investments Ltd. now owns 322,420 shares of the utilities provider’s stock worth $15,454,000 after purchasing an additional 156,893 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Avangrid by 40.1% during the second quarter. Bank of America Corp DE now owns 424,991 shares of the utilities provider’s stock worth $22,494,000 after purchasing an additional 121,704 shares during the last quarter. 13.69% 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 engages in the generation, transmission, and distribution of electricity, as well as distribution, transportation, and sale of natural gas. As of December 31, 2017, the company delivered electricity to approximately 2.2 million electric utility customers, as well as natural gas to approximately 1 million natural gas public utility customers; and owned approximately 67.5 billion cubic feet of net working gas storage capacity.
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