JP Morgan Downgrades Avangrid Inc to Underweight

Brokerage firm JP Morgan Downgrades its rating on Avangrid Inc(NYSE:AGR). The shares have been rated Underweight. Previously, the analysts had a Neutral rating on the shares. The rating by JP Morgan was issued on Sep 23, 2016.

Avangrid Inc(AGR) last announced its earnings results on Jul 18, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $1.44B. Analysts had an estimated revenue of $1.29B. Earnings per share were $0.32. Analysts had estimated an EPS of $0.43.

Several Insider Transactions has been reported to the SEC. On Sep 6, 2016, Alan D Solomont (director) purchased 120 shares at $41.75 per share price.Also, 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.

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