StockNews.com Downgrades Avangrid (NYSE:AGR) to Hold

Avangrid (NYSE:AGR – Get Rating) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

Other equities research analysts have also issued research reports about the company. Mizuho raised their price target on Avangrid from $39.00 to $41.00 and gave the stock a “neutral” rating in a research report on Monday, October 31st. Wells Fargo & Company lifted their target price on Avangrid to $48.00 in a research note on Wednesday, December 14th. Finally, KeyCorp boosted their price objective on Avangrid from $35.00 to $36.00 and gave the stock an “underweight” rating in a report on Tuesday, January 17th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Avangrid presently has an average rating of “Hold” and a consensus price target of $46.00.

Avangrid Price Performance

Shares of AGR traded down $0.72 on Wednesday, hitting $40.47. The company’s stock had a trading volume of 706,493 shares, compared to its average volume of 657,178. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.74 and a quick ratio of 0.61. The company has a 50 day moving average price of $42.87 and a 200 day moving average price of $44.29. Avangrid has a fifty-two week low of $37.64 and a fifty-two week high of $51.71. The company has a market capitalization of $15.65 billion, a PE ratio of 17.44, a PEG ratio of 3.31 and a beta of 0.39.

Hedge Funds Weigh In On Avangrid

Hedge funds have recently bought and sold shares of the company. Cetera Advisor Networks LLC acquired a new stake in Avangrid during the first quarter worth approximately $214,000. Citigroup Inc. grew its position in shares of Avangrid by 208.4% during the 1st quarter. Citigroup Inc. now owns 12,951 shares of the utilities provider’s stock worth $605,000 after buying an additional 8,751 shares during the period. Bank of Montreal Can increased its stake in shares of Avangrid by 90.5% in the 1st quarter. Bank of Montreal Can now owns 21,626 shares of the utilities provider’s stock valued at $1,012,000 after acquiring an additional 10,271 shares in the last quarter. MetLife Investment Management LLC acquired a new position in shares of Avangrid during the 1st quarter valued at $53,000. Finally, Rhumbline Advisers boosted its stake in Avangrid by 4.6% during the first quarter. Rhumbline Advisers now owns 47,510 shares of the utilities provider’s stock worth $2,221,000 after acquiring an additional 2,072 shares in the last quarter. Institutional investors own 11.96% of the company’s stock.

Avangrid Company Profile

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Avangrid, Inc engages in the energy transmission and gas distribution. It operates through the following segments: Networks, Renewables, and Other. The Networks segment includes energy transmission and distribution, electric transmission, and gas distribution activities. The Renewables segment relates to renewable energy, mainly wind energy generation and trading related to such activities.