Avangrid, Inc. (NYSE:AGR) Forecasted to Post FY2022 Earnings of $2.35 Per Share

Avangrid, Inc. (NYSE:AGRGet Rating) – Equities researchers at Seaport Res Ptn issued their FY2022 EPS estimates for Avangrid in a report released on Tuesday, April 26th. Seaport Res Ptn analyst A. Storozynski anticipates that the utilities provider will post earnings of $2.35 per share for the year.

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

Shares of NYSE:AGR opened at $45.29 on Friday. The stock has a 50 day moving average of $46.09 and a 200 day moving average of $48.10. The company has a current ratio of 1.13, a quick ratio of 1.03 and a debt-to-equity ratio of 0.40. The company has a market cap of $17.51 billion, a PE ratio of 21.88, a price-to-earnings-growth ratio of 3.65 and a beta of 0.33. Avangrid has a 12-month low of $42.20 and a 12-month high of $55.57.

Avangrid (NYSE:AGRGet Rating) last issued its quarterly earnings data on Tuesday, April 26th. The utilities provider reported $1.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.16. Avangrid had a return on equity of 4.12% and a net margin of 10.14%. During the same period last year, the company earned $1.14 earnings per share.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Friday, June 3rd will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 3.89%. The ex-dividend date of this dividend is Thursday, June 2nd. Avangrid’s dividend payout ratio is currently 85.02%.

A number of large investors have recently modified their holdings of AGR. Wellington Management Group LLP lifted its stake in Avangrid by 0.9% in the third 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 during the last quarter. BlackRock Inc. increased its stake in Avangrid by 79.7% in the fourth quarter. BlackRock Inc. now owns 5,354,966 shares of the utilities provider’s stock worth $267,105,000 after purchasing an additional 2,374,803 shares during the period. Baillie Gifford & Co. lifted its holdings in Avangrid by 79.6% during the 4th quarter. Baillie Gifford & Co. now owns 2,738,917 shares of the utilities provider’s stock valued at $136,617,000 after buying an additional 1,214,303 shares in the last quarter. State Street Corp grew its stake in Avangrid by 9.8% in the fourth quarter. State Street Corp now owns 1,302,336 shares of the utilities provider’s stock worth $65,500,000 after purchasing an additional 116,236 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Avangrid in the fourth quarter valued at about $57,347,000. 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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