Avangrid, Inc. Expected to Post Q1 2022 Earnings of $0.82 Per Share (NYSE:AGR)

Avangrid, Inc. (NYSE:AGRGet Rating) – Equities researchers at KeyCorp issued their Q1 2022 earnings per share estimates for shares of Avangrid in a note issued to investors on Tuesday, April 19th. KeyCorp analyst S. Karp expects that the utilities provider will post earnings of $0.82 per share for the quarter. KeyCorp also issued estimates for Avangrid’s FY2022 earnings at $2.04 EPS, FY2023 earnings at $2.18 EPS, FY2024 earnings at $2.32 EPS and FY2025 earnings at $2.46 EPS.

Avangrid (NYSE:AGRGet Rating) last posted its quarterly earnings results on Tuesday, February 22nd. The utilities provider reported $0.44 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.05. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.60 billion. Avangrid had a return on equity of 4.12% and a net margin of 10.14%. The firm’s quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.62 EPS.

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

AGR opened at $48.83 on Friday. The company has a fifty day simple moving average of $45.85 and a 200 day simple moving average of $48.25. The stock has a market cap of $18.88 billion, a P/E ratio of 23.59, a P/E/G ratio of 3.59 and a beta of 0.33. The company has a quick ratio of 1.03, a current ratio of 1.13 and a debt-to-equity ratio of 0.40. Avangrid has a 12 month low of $42.20 and a 12 month high of $55.57.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Friday, June 3rd will be issued a $0.44 dividend. The ex-dividend date of this dividend is Thursday, June 2nd. This represents a $1.76 annualized dividend and a yield of 3.60%. Avangrid’s payout ratio is 85.02%.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Long Run Wealth Advisors LLC bought a new stake in shares of Avangrid during the fourth quarter worth about $888,000. Wellington Management Group LLP grew its position in Avangrid by 0.9% in the 3rd quarter. Wellington Management Group LLP now owns 5,697,474 shares of the utilities provider’s stock worth $276,898,000 after purchasing an additional 49,170 shares in the last quarter. Franklin Resources Inc. grew its position in Avangrid by 12.0% in the 3rd quarter. Franklin Resources Inc. now owns 338,273 shares of the utilities provider’s stock worth $16,440,000 after purchasing an additional 36,183 shares in the last quarter. UBS Asset Management Americas Inc. grew its position in Avangrid by 1.4% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 335,841 shares of the utilities provider’s stock worth $16,322,000 after purchasing an additional 4,567 shares in the last quarter. Finally, Alliancebernstein L.P. grew its position in Avangrid by 14.1% in the 3rd quarter. Alliancebernstein L.P. now owns 26,819 shares of the utilities provider’s stock worth $1,303,000 after purchasing an additional 3,313 shares in the last quarter. Hedge funds and other institutional investors own 10.66% of the company’s stock.

About Avangrid (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 and Estimates for Avangrid (NYSE:AGR)

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