Avangrid, Inc. (NYSE:AGR – Get Rating) – KeyCorp dropped their Q3 2022 earnings per share estimates for shares of Avangrid in a note issued to investors on Monday, July 18th. KeyCorp analyst S. Karp now forecasts that the utilities provider will earn $0.34 per share for the quarter, down from their previous estimate of $0.35. KeyCorp has a “Underweight” rating and a $40.00 price target on the stock. The consensus estimate for Avangrid’s current full-year earnings is $2.26 per share. KeyCorp also issued estimates for Avangrid’s FY2022 earnings at $2.33 EPS.
Several other research firms have also weighed in on AGR. Siebert Williams Shank assumed coverage on Avangrid in a report on Thursday, June 9th. They set a “buy” rating and a $57.00 price target on the stock. StockNews.com assumed coverage on Avangrid in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Barclays reduced their target price on Avangrid from $51.00 to $48.00 and set an “equal weight” rating on the stock in a research note on Monday. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $47.00.
Avangrid Stock Performance
NYSE:AGR opened at $44.97 on Thursday. The stock’s fifty day moving average is $46.09 and its 200 day moving average is $46.04. Avangrid has a fifty-two week low of $42.20 and a fifty-two week high of $55.57. The firm has a market capitalization of $17.39 billion, a PE ratio of 21.01, a PEG ratio of 3.41 and a beta of 0.34. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.89 and a current ratio of 0.98.
Avangrid (NYSE:AGR – Get Rating) last released its quarterly earnings results on Tuesday, April 26th. The utilities provider reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.09. Avangrid had a return on equity of 4.40% and a net margin of 11.45%. The company had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.04 billion. During the same quarter in the prior year, the firm posted $1.14 EPS.
Hedge Funds Weigh In On Avangrid
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Wealthfront Advisers LLC grew its position in shares of Avangrid by 96.9% during the 2nd quarter. Wealthfront Advisers LLC now owns 113,652 shares of the utilities provider’s stock worth $5,242,000 after buying an additional 55,939 shares in the last quarter. Denali Advisors LLC grew its position in shares of Avangrid by 39.3% during the 2nd quarter. Denali Advisors LLC now owns 14,900 shares of the utilities provider’s stock worth $687,000 after buying an additional 4,200 shares in the last quarter. Long Run Wealth Advisors LLC grew its position in shares of Avangrid by 10.1% during the 2nd quarter. Long Run Wealth Advisors LLC now owns 22,832 shares of the utilities provider’s stock worth $1,053,000 after buying an additional 2,095 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its position in shares of Avangrid by 19.3% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 11,370 shares of the utilities provider’s stock worth $524,000 after buying an additional 1,840 shares in the last quarter. Finally, IFM Investors Pty Ltd grew its position in shares of Avangrid by 11.1% during the 2nd quarter. IFM Investors Pty Ltd now owns 8,421 shares of the utilities provider’s stock worth $388,000 after buying an additional 843 shares in the last quarter. Institutional investors own 11.44% of the company’s stock.
Avangrid Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 2nd will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date is Thursday, September 1st. Avangrid’s payout ratio is 82.24%.
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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