Avangrid Inc (AGR) is Downgraded by JP Morgan to Underweight

Avangrid Inc (AGR) was Downgraded by JP Morgan to ” Underweight”. Earlier the firm had a rating of “Neutral ” on the company shares. JP Morgan advised their investors in a research report released on Sep 23, 2016.

Many Wall Street Analysts have commented on Avangrid Inc. Avangrid Inc was Initiated by Guggenheim to “Neutral” on Sep 8, 2016.

On the company’s financial health, Avangrid Inc reported $0.28 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Nov 2, 2015. Analyst had a consensus of $0.29. The company had revenue of $330.50 million for the quarter, compared to analysts expectations of $318.37 million. The company’s revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.30 EPS.

In a different news, on Sep 6, 2016, Alan D Solomont (director) purchased 120 shares at $41.75 per share price. According to the SEC, on May 16, 2016, R. Scott Mahoney (officer ) purchased 1,000 shares at $40.46 per share price. On Mar 8, 2016, Ignacio Sanchez Galan (director) purchased 100,000 shares at $38.47 per share price, according to the Form-4 filing with the securities and exchange commission.

Avangrid Inc. formerly Iberdrola USA Inc. is an energy services holding company. The Company through its principal subsidiaries Iberdrola USA Networks Inc. (Iberdrola Networks) and Iberdrola Renewables Holding Inc. (IRHI) is engaged in the regulated energy distribution renewable energy generation (Renewables) and gas businesses (Gas) collectively (Renewables and Gas). 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 originated in New York and Maine carried out by the Company and its subsidiaries. Renewables segment includes activities relating to renewable energy mainly wind energy generation and trading related with such activities. The Gas segment includes gas trading and storage businesses carried on by the Company and its subsidiaries. Iberdrola Networks owns and operates the regulated utility businesses of the Company.

Avangrid Inc

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