Avangrid, Inc. (NYSE:AGR) – Investment analysts at KeyCorp issued their Q1 2021 earnings estimates for shares of Avangrid in a report released on Tuesday, January 12th. KeyCorp analyst S. Karp anticipates that the utilities provider will earn $0.74 per share for the quarter. KeyCorp also issued estimates for Avangrid’s Q2 2021 earnings at $0.54 EPS, Q3 2021 earnings at $0.36 EPS and Q4 2021 earnings at $0.68 EPS.
Other equities research analysts have also recently issued reports about the company. Morgan Stanley restated an “equal weight” rating on shares of Avangrid in a research note on Wednesday, October 21st. Bank of America cut shares of Avangrid from a “neutral” rating to an “underperform” rating and set a $46.00 price target on the stock. in a report on Friday, September 25th. Zacks Investment Research cut shares of Avangrid from a “hold” rating to a “sell” rating in a report on Tuesday, October 20th. Finally, Wells Fargo & Company increased their price target on shares of Avangrid from $58.00 to $64.00 and gave the company an “overweight” rating in a report on Thursday, October 15th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $51.00.
Avangrid (NYSE:AGR) last announced its earnings results on Tuesday, October 20th. The utilities provider reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.09). Avangrid had a net margin of 10.19% and a return on equity of 4.20%. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same period in the previous year, the firm posted $0.40 EPS. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year.
Several institutional investors have recently added to or reduced their stakes in the company. Jennison Associates LLC lifted its stake in Avangrid by 43.5% in the 3rd quarter. Jennison Associates LLC now owns 1,020,590 shares of the utilities provider’s stock worth $51,499,000 after acquiring an additional 309,282 shares in the last quarter. Morgan Stanley lifted its stake in Avangrid by 1,719.9% in the 3rd quarter. Morgan Stanley now owns 921,456 shares of the utilities provider’s stock worth $46,497,000 after acquiring an additional 870,823 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Avangrid by 38.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 564,669 shares of the utilities provider’s stock worth $27,815,000 after acquiring an additional 157,148 shares in the last quarter. Gabelli Funds LLC lifted its stake in Avangrid by 0.8% in the 3rd quarter. Gabelli Funds LLC now owns 515,100 shares of the utilities provider’s stock worth $25,992,000 after acquiring an additional 4,000 shares in the last quarter. Finally, CI Investments Inc. lifted its stake in Avangrid by 25.8% in the 3rd quarter. CI Investments Inc. now owns 512,421 shares of the utilities provider’s stock worth $25,857,000 after acquiring an additional 105,011 shares in the last quarter. 13.74% of the stock is owned by institutional investors and hedge funds.
The business also recently disclosed a quarterly dividend, which was paid on Monday, January 4th. Shareholders of record on Friday, December 11th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date was Thursday, December 10th. Avangrid’s dividend payout ratio is presently 81.11%.
Avangrid Company Profile
Avangrid, Inc operates as an energy services holding company in the United States. It operates through two segments, Networks and Renewables. The company engages in the generation, transmission, and distribution of electricity, as well as distribution, transportation, and sale of natural gas. It also develops, constructs, and operates renewable energy generation facilities primarily using onshore wind power, as well as solar, biomass, and thermal power.
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