Equities research analysts predict that Avangrid Inc (NYSE:AGR) will announce $0.62 earnings per share for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for Avangrid’s earnings, with the highest EPS estimate coming in at $0.66 and the lowest estimate coming in at $0.58. Avangrid posted earnings per share of $0.61 in the same quarter last year, which would suggest a positive year-over-year growth rate of 1.6%. The business is scheduled to issue its next quarterly earnings results on Tuesday, February 19th.
According to Zacks, analysts expect that Avangrid will report full year earnings of $2.27 per share for the current year, with EPS estimates ranging from $2.23 to $2.30. For the next year, analysts forecast that the business will post earnings of $2.46 per share, with EPS estimates ranging from $2.34 to $2.55. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that follow Avangrid.
Avangrid (NYSE:AGR) last released its earnings results on Tuesday, October 23rd. The utilities provider reported $0.45 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.01). The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.32 billion. Avangrid had a net margin of 6.29% and a return on equity of 4.55%. The firm’s revenue was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.40 EPS.
A number of equities research analysts have recently issued reports on AGR shares. Zacks Investment Research raised shares of Avangrid from a “sell” rating to a “hold” rating in a report on Thursday. ValuEngine upgraded shares of Avangrid from a “hold” rating to a “buy” rating in a report on Wednesday, December 5th. Citigroup dropped their price target on Avangrid from $59.00 to $57.00 and set a “buy” rating for the company in a research note on Tuesday, December 4th. TheStreet raised Avangrid from a “c+” rating to a “b” rating in a research report on Wednesday, November 14th. Finally, Goldman Sachs Group reissued a “neutral” rating on shares of Avangrid in a research report on Monday, October 29th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $53.78.
A number of hedge funds and other institutional investors have recently bought and sold shares of AGR. Jennison Associates LLC lifted its holdings in Avangrid by 49.6% in the 3rd quarter. Jennison Associates LLC now owns 1,223,203 shares of the utilities provider’s stock worth $58,628,000 after purchasing an additional 405,680 shares in the last quarter. Millennium Management LLC purchased a new position in Avangrid in the 2nd quarter worth approximately $18,368,000. Renaissance Technologies LLC lifted its holdings in Avangrid by 75.1% in the 2nd quarter. Renaissance Technologies LLC now owns 743,800 shares of the utilities provider’s stock worth $39,369,000 after purchasing an additional 318,900 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Avangrid by 180.8% in the 3rd quarter. AQR Capital Management LLC now owns 354,495 shares of the utilities provider’s stock worth $16,991,000 after purchasing an additional 228,244 shares in the last quarter. Finally, Rehmann Capital Advisory Group lifted its holdings in Avangrid by 4,696.1% in the 3rd quarter. Rehmann Capital Advisory Group now owns 204,603 shares of the utilities provider’s stock worth $4,268,000 after purchasing an additional 200,337 shares in the last quarter. 14.13% of the stock is currently owned by institutional investors.
NYSE AGR opened at $49.36 on Tuesday. The stock has a market cap of $15.10 billion, a price-to-earnings ratio of 22.44, a price-to-earnings-growth ratio of 2.28 and a beta of 0.14. Avangrid has a 52 week low of $45.17 and a 52 week high of $54.55. The company has a current ratio of 0.67, a quick ratio of 0.59 and a debt-to-equity ratio of 0.33.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 2nd. Investors of record on Tuesday, December 11th were issued a $0.44 dividend. The ex-dividend date was Monday, December 10th. This represents a $1.76 dividend on an annualized basis and a yield of 3.57%. Avangrid’s dividend payout ratio is presently 80.00%.
Avangrid, Inc is a diversified energy and utility company. It operates regulated utilities and electricity generation assets through two primary lines of business: Avangrid Networks and Avangrid Renewables. The Avangrid Networks includes eight electric and natural gas utilities. The Avangrid Renewables provides electricity through wind power, across the United States.
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