Goldman Sachs Group started coverage on shares of Avangrid (NYSE:AGR) in a research note issued to investors on Wednesday, January 10th, MarketBeat.com reports. The brokerage issued a buy rating on the utilities provider’s stock.
A number of other brokerages have also recently commented on AGR. JPMorgan Chase & Co. increased their price target 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. Bank of America started coverage on shares of Avangrid in a research note on Tuesday, October 24th. They set a buy rating and a $52.00 target price for the company. Zacks Investment Research cut shares of Avangrid from a hold rating to a sell rating in a research note on Friday, October 13th. TheStreet upgraded shares of Avangrid from a c rating to a b- rating in a research note on Monday, December 18th. Finally, Wells Fargo & Co cut shares of Avangrid from an outperform rating to a market perform rating in a research note on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. Avangrid presently has an average rating of Hold and a consensus price target of $48.63.
Shares of Avangrid (AGR) traded up $0.25 during mid-day trading on Wednesday, reaching $48.81. 944,530 shares of the company’s stock were exchanged, compared to its average volume of 499,568. The firm has a market capitalization of $15,005.30, a PE ratio of 22.70, a P/E/G ratio of 2.43 and a beta of 0.31. The company has a current ratio of 0.69, a quick ratio of 0.56 and a debt-to-equity ratio of 0.31. Avangrid has a 12-month low of $38.77 and a 12-month high of $53.46.
Large investors have recently added to or reduced their stakes in the stock. Signature Estate & Investment Advisors LLC increased its holdings in Avangrid by 11.6% in the 4th quarter. Signature Estate & Investment Advisors LLC now owns 14,103 shares of the utilities provider’s stock valued at $713,000 after buying an additional 1,469 shares during the period. Charter Research & Investment Group Inc. bought a new position in Avangrid in the 4th quarter valued at about $1,254,000. SeaCrest Wealth Management LLC bought a new position in Avangrid in the 4th quarter valued at about $216,000. US Bancorp DE increased its holdings in Avangrid by 57.4% in the 4th quarter. US Bancorp DE now owns 5,440 shares of the utilities provider’s stock valued at $275,000 after buying an additional 1,984 shares during the period. Finally, Aperio Group LLC increased its holdings in Avangrid by 7.0% in the 4th quarter. Aperio Group LLC now owns 335,415 shares of the utilities provider’s stock valued at $16,965,000 after buying an additional 21,994 shares during the period. 13.78% of the stock is currently owned by institutional investors and hedge funds.
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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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