Avangrid (AGR) Set to Announce Earnings on Tuesday

Avangrid (NYSE:AGRGet Rating) is scheduled to announce its earnings results after the market closes on Tuesday, April 26th. Analysts expect the company to announce earnings of $1.00 per share for the quarter. Avangrid has set its FY 2022 guidance at $2.200-$2.380 EPS and its FY22 guidance at $2.20-$2.38 EPS.Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Avangrid (NYSE:AGRGet Rating) last announced its quarterly earnings data on Tuesday, February 22nd. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.05. Avangrid had a return on equity of 4.12% and a net margin of 10.14%. The business had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same period in the previous year, the business posted $0.62 EPS. The firm’s quarterly revenue was up 15.8% compared to the same quarter last year. On average, analysts expect Avangrid to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Shares of Avangrid stock opened at $48.53 on Tuesday. The stock’s 50-day simple moving average is $45.62 and its 200 day simple moving average is $48.25. Avangrid has a 52-week low of $42.20 and a 52-week high of $55.57. The stock has a market capitalization of $18.76 billion, a P/E ratio of 23.44, a P/E/G ratio of 3.59 and a beta of 0.33. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.03 and a current ratio of 1.13.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Friday, June 3rd will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend is Thursday, June 2nd. Avangrid’s dividend payout ratio is presently 85.02%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in Avangrid by 79.7% in the 4th quarter. BlackRock Inc. now owns 5,354,966 shares of the utilities provider’s stock valued at $267,105,000 after acquiring an additional 2,374,803 shares during the last quarter. State Street Corp boosted its position in Avangrid by 9.8% in the 4th quarter. State Street Corp now owns 1,302,336 shares of the utilities provider’s stock valued at $65,500,000 after buying an additional 116,236 shares during the period. Morgan Stanley boosted its position in Avangrid by 22.4% in the 2nd quarter. Morgan Stanley now owns 950,164 shares of the utilities provider’s stock valued at $48,868,000 after buying an additional 173,680 shares during the period. Legal & General Group Plc boosted its position in Avangrid by 10.6% in the 4th quarter. Legal & General Group Plc now owns 673,671 shares of the utilities provider’s stock valued at $33,603,000 after buying an additional 64,317 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in Avangrid by 29.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 669,105 shares of the utilities provider’s stock valued at $33,375,000 after buying an additional 151,411 shares during the period. Institutional investors own 10.66% of the company’s stock.

AGR has been the subject of several research reports. Janney Montgomery Scott lowered Avangrid from a “buy” rating to a “neutral” rating in a research note on Thursday, February 24th. Mizuho dropped their price objective on Avangrid from $47.00 to $42.00 and set an “underperform” rating for the company in a research note on Thursday, February 24th. Zacks Investment Research raised Avangrid from a “sell” rating to a “hold” rating and set a $48.00 price objective for the company in a research note on Tuesday, January 25th. Wells Fargo & Company lowered Avangrid from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $60.00 to $48.00 in a research note on Wednesday, February 23rd. Finally, StockNews.com began coverage on Avangrid in a report on Thursday, March 31st. They issued a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $48.50.

Avangrid Company Profile (Get Rating)

Avangrid, Inc, an energy services holding company, engages in the regulated energy transmission and distribution, and renewable energy generation businesses in the United States. The company operates through Networks and Renewables segments. It is involved in the generation, transmission, and distribution of electricity; and distribution, transportation, and sale of natural gas.

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Earnings History for Avangrid (NYSE:AGR)

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