Avangrid (NYSE:AGR – Get Rating) issued an update on its FY 2022 earnings guidance on Saturday morning. The company provided earnings per share guidance of $2.20-$2.38 for the period, compared to the consensus earnings per share estimate of $2.34. The company issued revenue guidance of -.
Avangrid Price Performance
NYSE:AGR traded down $1.43 during trading hours on Friday, reaching $45.28. 1,409,809 shares of the company traded hands, compared to its average volume of 844,398. The firm's 50-day moving average is $48.92 and its 200-day moving average is $47.10. The stock has a market cap of $17.51 billion, a P/E ratio of 19.35, a P/E/G ratio of 3.46 and a beta of 0.34. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.89 and a quick ratio of 0.77. Avangrid has a 1-year low of $42.20 and a 1-year high of $53.95.
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Avangrid (NYSE:AGR – Get Rating) last announced its earnings results on Tuesday, July 26th. The utilities provider reported $0.46 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.13. Avangrid had a return on equity of 4.65% and a net margin of 12.12%. The firm had revenue of $1.79 billion for the quarter, compared to analysts' expectations of $1.60 billion. During the same quarter in the prior year, the firm earned $0.35 EPS. Equities research analysts expect that Avangrid will post 2.29 earnings per share for the current fiscal year.
Avangrid Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 2nd will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date is Thursday, September 1st. Avangrid's payout ratio is currently 75.21%.
Analyst Ratings Changes
A number of research analysts recently weighed in on AGR shares. Siebert Williams Shank started coverage on Avangrid in a report on Thursday, June 9th. They issued a buy rating and a $57.00 target price on the stock. Wells Fargo & Company lifted their target price on Avangrid from $50.00 to $52.00 and gave the company an equal weight rating in a report on Monday, September 19th. Mizuho lifted their target price on Avangrid from $42.00 to $47.00 and gave the company an underperform rating in a report on Monday, September 12th. TheStreet upgraded Avangrid from a c+ rating to a b rating in a report on Tuesday, August 9th. 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 report on Monday, July 18th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $49.00.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the stock. Cetera Advisor Networks LLC increased its position in shares of Avangrid by 4.7% during the second quarter. Cetera Advisor Networks LLC now owns 4,787 shares of the utilities provider's stock worth $221,000 after acquiring an additional 215 shares during the last quarter. Cetera Investment Advisers increased its position in shares of Avangrid by 1.9% during the first quarter. Cetera Investment Advisers now owns 15,024 shares of the utilities provider's stock worth $702,000 after acquiring an additional 276 shares during the last quarter. Baird Financial Group Inc. increased its position in shares of Avangrid by 6.6% during the first quarter. Baird Financial Group Inc. now owns 8,020 shares of the utilities provider's stock worth $375,000 after acquiring an additional 500 shares during the last quarter. Captrust Financial Advisors increased its position in shares of Avangrid by 21.6% during the first quarter. Captrust Financial Advisors now owns 2,845 shares of the utilities provider's stock worth $134,000 after acquiring an additional 505 shares during the last quarter. Finally, Creative Planning increased its holdings in Avangrid by 3.8% in the second quarter. Creative Planning now owns 15,888 shares of the utilities provider's stock valued at $733,000 after buying an additional 577 shares during the last quarter. 12.49% of the stock is owned by hedge funds and other institutional investors.
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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