Q4 2022 EPS Estimates for Avangrid, Inc. Reduced by KeyCorp (NYSE:AGR)

Avangrid, Inc. (NYSE:AGRGet Rating) – Investment analysts at KeyCorp lowered their Q4 2022 earnings per share (EPS) estimates for shares of Avangrid in a note issued to investors on Monday, January 16th. KeyCorp analyst S. Jain now expects that the utilities provider will earn $0.39 per share for the quarter, down from their prior estimate of $0.40. KeyCorp currently has a “Underweight” rating and a $36.00 target price on the stock. The consensus estimate for Avangrid’s current full-year earnings is $2.34 per share.

Avangrid (NYSE:AGRGet Rating) last issued its quarterly earnings data on Tuesday, October 25th. The utilities provider reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). The company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.73 billion. Avangrid had a net margin of 11.66% and a return on equity of 4.56%. During the same period in the prior year, the company posted $0.34 EPS.

Other analysts have also issued research reports about the company. Wells Fargo & Company raised their target price on Avangrid to $48.00 in a report on Wednesday, December 14th. Mizuho raised their target price on Avangrid from $39.00 to $41.00 and gave the company a “neutral” rating in a report on Monday, October 31st. Finally, StockNews.com lowered Avangrid from a “buy” rating to a “hold” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $46.00.

Avangrid Stock Performance

AGR opened at $42.34 on Wednesday. The firm has a market capitalization of $16.37 billion, a P/E ratio of 18.25, a price-to-earnings-growth ratio of 3.46 and a beta of 0.39. The stock’s 50 day moving average price is $42.71 and its two-hundred day moving average price is $44.63. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 0.38. Avangrid has a 12-month low of $37.64 and a 12-month high of $51.71.

Institutional Trading of Avangrid

Hedge funds have recently modified their holdings of the company. Park Avenue Securities LLC lifted its position in shares of Avangrid by 1.4% in the 3rd quarter. Park Avenue Securities LLC now owns 32,111 shares of the utilities provider’s stock worth $1,339,000 after acquiring an additional 450 shares during the period. Hennion & Walsh Asset Management Inc. lifted its position in shares of Avangrid by 19.3% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 11,370 shares of the utilities provider’s stock worth $524,000 after acquiring an additional 1,840 shares during the period. Van ECK Associates Corp lifted its position in shares of Avangrid by 22.0% during the 2nd quarter. Van ECK Associates Corp now owns 15,829 shares of the utilities provider’s stock worth $730,000 after buying an additional 2,855 shares during the period. Treasurer of the State of North Carolina lifted its position in shares of Avangrid by 42.5% during the 2nd quarter. Treasurer of the State of North Carolina now owns 29,982 shares of the utilities provider’s stock worth $1,383,000 after buying an additional 8,946 shares during the period. Finally, WINTON GROUP Ltd bought a new position in shares of Avangrid during the 2nd quarter worth approximately $940,000. Institutional investors own 11.96% of the company’s stock.

About Avangrid

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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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