Avangrid, Inc. (NYSE:AGR – Get Rating) – Stock analysts at KeyCorp upped their FY2022 earnings per share (EPS) estimates for Avangrid in a note issued to investors on Tuesday, August 2nd. KeyCorp analyst S. Karp now forecasts that the utilities provider will post earnings per share of $2.45 for the year, up from their previous forecast of $2.33. KeyCorp has a “Underweight” rating and a $40.00 price objective on the stock. The consensus estimate for Avangrid’s current full-year earnings is $2.27 per share. KeyCorp also issued estimates for Avangrid’s FY2026 earnings at $2.57 EPS.
Other research analysts have also issued reports about the company. Barclays lowered 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. StockNews.com raised Avangrid from a “hold” rating to a “buy” rating in a report on Monday, August 1st. Finally, Siebert Williams Shank initiated coverage on Avangrid in a report on Thursday, June 9th. They set a “buy” rating and a $57.00 target price on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $47.00.
Avangrid Price Performance
Avangrid (NYSE:AGR – Get Rating) last issued its quarterly 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%. During the same quarter last year, the business earned $0.35 EPS.
Avangrid Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 2nd will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Thursday, September 1st. This represents a $1.76 dividend on an annualized basis and a yield of 3.60%. Avangrid’s payout ratio is presently 75.21%.
Institutional Investors Weigh In On Avangrid
A number of institutional investors have recently bought and sold shares of AGR. CWM LLC boosted its position in Avangrid by 385.0% during the 2nd quarter. CWM LLC now owns 645 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 512 shares during the period. Wahed Invest LLC acquired a new stake in Avangrid during the 4th quarter worth about $34,000. Covestor Ltd acquired a new stake in Avangrid during the 4th quarter worth about $41,000. GW&K Investment Management LLC acquired a new stake in Avangrid during the 1st quarter worth about $42,000. Finally, Lazard Asset Management LLC boosted its position in Avangrid by 264.5% during the 4th quarter. Lazard Asset Management LLC now owns 915 shares of the utilities provider’s stock worth $44,000 after acquiring an additional 664 shares during the period. 11.44% of the stock is currently owned by institutional investors and hedge funds.
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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