Avangrid (AGR) Scheduled to Post Quarterly Earnings on Tuesday

Avangrid (NYSE:AGR) is scheduled to issue its quarterly earnings data after the market closes on Tuesday, April 23rd. Analysts expect Avangrid to post earnings of $0.70 per share for the quarter.

Avangrid (NYSE:AGR) last posted its earnings results on Thursday, February 22nd. The utilities provider reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.03. Avangrid had a net margin of 9.46% and a return on equity of 3.92%. The business had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same quarter in the previous year, the business posted $0.39 EPS. The business’s quarterly revenue was up 5.7% on a year-over-year basis. On average, analysts expect Avangrid to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Avangrid Stock Up 0.9 %

NYSE AGR traded up $0.33 during trading hours on Wednesday, hitting $36.04. The company had a trading volume of 903,235 shares, compared to its average volume of 927,034. The firm’s 50 day moving average is $33.94 and its 200 day moving average is $32.27. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.65 and a quick ratio of 0.56. Avangrid has a fifty-two week low of $27.46 and a fifty-two week high of $41.22. The company has a market capitalization of $13.94 billion, a price-to-earnings ratio of 17.75, a P/E/G ratio of 2.66 and a beta of 0.56.

Avangrid Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a $0.44 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.88%. Avangrid’s dividend payout ratio (DPR) is currently 86.70%.

Wall Street Analysts Forecast Growth

AGR has been the subject of a number of analyst reports. Mizuho upped their price target on Avangrid from $33.00 to $34.00 and gave the stock a “neutral” rating in a report on Wednesday, January 3rd. Wells Fargo & Company raised their price target on shares of Avangrid from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Friday, February 23rd. StockNews.com upgraded shares of Avangrid from a “sell” rating to a “hold” rating in a report on Friday, February 23rd. Finally, Janney Montgomery Scott reissued a “sell” rating and issued a $35.00 price objective on shares of Avangrid in a research report on Friday, March 8th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat, Avangrid has a consensus rating of “Hold” and a consensus price target of $34.75.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. MetLife Investment Management LLC bought a new position in shares of Avangrid during the first quarter worth about $53,000. State of Wyoming acquired a new stake in Avangrid during the fourth quarter valued at approximately $61,000. Tower Research Capital LLC TRC lifted its holdings in Avangrid by 1,778.9% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,142 shares of the utilities provider’s stock worth $65,000 after buying an additional 2,028 shares during the last quarter. Wahed Invest LLC grew its position in shares of Avangrid by 101.1% in the 4th quarter. Wahed Invest LLC now owns 2,232 shares of the utilities provider’s stock worth $72,000 after acquiring an additional 1,122 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Avangrid by 27.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,779 shares of the utilities provider’s stock valued at $119,000 after acquiring an additional 600 shares during the last quarter. 13.12% of the stock is owned by institutional investors and hedge funds.

Avangrid Company Profile

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.