Avangrid (NYSE:AGR) Updates FY21 Earnings Guidance

Avangrid (NYSE:AGR) issued an update on its FY21 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $2.04-2.22 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.15. Avangrid also updated its FY 2021 guidance to $2.040-$2.220 EPS.

A number of brokerages have recently issued reports on AGR. Mizuho increased their price objective on shares of Avangrid from $51.00 to $53.00 and gave the company a neutral rating in a research note on Tuesday, August 24th. Zacks Investment Research upgraded shares of Avangrid from a sell rating to a hold rating in a research note on Monday, August 2nd. Finally, TheStreet upgraded shares of Avangrid from a c rating to a b rating in a research note on Wednesday, October 13th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Avangrid presently has an average rating of Hold and a consensus target price of $54.67.

Shares of AGR stock traded up $0.27 during mid-day trading on Tuesday, reaching $52.38. The company’s stock had a trading volume of 593,291 shares, compared to its average volume of 550,403. Avangrid has a 1-year low of $44.02 and a 1-year high of $55.57. The company has a market cap of $20.28 billion, a P/E ratio of 24.03, a PEG ratio of 3.15 and a beta of 0.28. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.15 and a current ratio of 1.24. The firm’s 50-day moving average is $52.39 and its two-hundred day moving average is $52.30.

An institutional investor recently raised its position in Avangrid stock. Morgan Stanley increased its position in shares of Avangrid, Inc. (NYSE:AGR) by 22.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 950,164 shares of the utilities provider’s stock after purchasing an additional 173,680 shares during the quarter. Morgan Stanley owned approximately 0.25% of Avangrid worth $48,868,000 at the end of the most recent quarter. Institutional investors own 10.69% of the company’s stock.

Avangrid Company Profile

Avangrid, Inc engages in the energy transmission and gas distribution. It operates through the following segments: Networks, Renewables, and Other. The Networks segment includes energy transmission and distribution, electric transmission, and gas distribution activities. The Renewables segment relating to renewable energy, mainly wind energy generation and trading related with such activities.

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Earnings History and Estimates for Avangrid (NYSE:AGR)

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