Equities Analysts Offer Predictions for Avangrid, Inc.’s Q2 2022 Earnings (NYSE:AGR)

Avangrid, Inc. (NYSE:AGRGet Rating) – Equities researchers at KeyCorp dropped their Q2 2022 earnings estimates for Avangrid in a research report issued to clients and investors on Wednesday, May 25th. KeyCorp analyst S. Karp now forecasts that the utilities provider will post earnings of $0.35 per share for the quarter, down from their previous estimate of $0.38. KeyCorp also issued estimates for Avangrid’s Q3 2022 earnings at $0.35 EPS, Q4 2022 earnings at $0.49 EPS, FY2023 earnings at $2.19 EPS and FY2026 earnings at $2.53 EPS.

Avangrid (NYSE:AGRGet Rating) last released its quarterly earnings data on Tuesday, April 26th. The utilities provider reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.16. Avangrid had a net margin of 11.45% and a return on equity of 4.40%. During the same period last year, the firm earned $1.14 earnings per share.

Other research analysts also recently issued reports about the company. Wells Fargo & Company downgraded Avangrid from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $60.00 to $48.00 in a report on Wednesday, February 23rd. StockNews.com began coverage on shares of Avangrid in a research report on Thursday, March 31st. They set a “hold” rating for the company. Mizuho cut their price objective 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. Finally, Janney Montgomery Scott cut shares of Avangrid from a “buy” rating to a “neutral” rating in a research report on Thursday, February 24th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat.com, Avangrid has an average rating of “Hold” and a consensus price target of $46.00.

Shares of NYSE:AGR opened at $48.47 on Thursday. The firm has a 50 day moving average of $46.40 and a 200 day moving average of $47.21. The company has a quick ratio of 0.89, a current ratio of 0.98 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $18.74 billion, a price-to-earnings ratio of 22.65, a price-to-earnings-growth ratio of 3.49 and a beta of 0.35. Avangrid has a 52 week low of $42.20 and a 52 week high of $55.57.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Friday, June 3rd will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date is Thursday, June 2nd. Avangrid’s dividend payout ratio (DPR) is presently 82.24%.

A number of institutional investors have recently modified their holdings of AGR. Amplius Wealth Advisors LLC acquired a new position in shares of Avangrid in the 4th quarter valued at $28,000. Concord Wealth Partners raised its stake in shares of Avangrid by 66.4% in the fourth quarter. Concord Wealth Partners now owns 664 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 265 shares during the last quarter. Wahed Invest LLC acquired a new stake in shares of Avangrid during the fourth quarter worth about $34,000. Covestor Ltd purchased a new stake in Avangrid in the fourth quarter valued at approximately $41,000. Finally, GW&K Investment Management LLC acquired a new position in Avangrid in the 1st quarter worth approximately $42,000. Institutional investors and hedge funds own 11.44% 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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