AAPL 190.615 -3.2313% MSFT 356.3901 -3.0969% NVDA 95.26 -6.1385% GOOGL 146.34 -3.1887% GOOG 148.62 -3.0908% AMZN 165.59 -4.067% META 483.025 -3.6801% AVGO 161.805 -5.3717% LLY 809.03 -3.6823% TSLA 223.7399 -7.3042% TSM 147.28 -2.9392% V 318.115 -3.4875% JPM 227.27 -2.0219% UNH 430.0 -5.3093% NVO 58.005 -0.1291% WMT 91.56 -1.7807% LVMUY 107.85 -1.5428% XOM 104.42 -2.3382% LVMHF 538.5 -2.6221% MA 505.115 -2.3612%
Avangrid, Inc.
AGR Details
Avangrid, Inc. (NYSE: AGR) operates 2 business units, Networks and Renewables.
Financial Results
Key Updates
The company announced that the unaffiliated committee of its Board of Directors received the non-binding proposal from Iberdrola, S.A. on March 6, 2024 for the acquisition of all of the issued as well as outstanding shares of common stock of the company not owned by Iberdrola, S.A. or its affiliates for $34.25 in cash per share. Iberdrola, S.A. is owning ~81.6% of Avangrid’s issued and outstanding shares of common stock.
Outlook
The company priorities for FY 2024 include delivering earnings outlook, executing on multi-year rate plans, etc. For 2024, its adjusted EPS is expected in the range of $2.17-$2.32.
Key Risks
Slowdown in the global growth, volatility in the equity market, increased inflation, changes in regulatory policies, etc. are some of the risks AGR faces.
Fundamental Valuation
P/E Based Relative Valuation (Illustrative)
Stock Recommendation
The stock has made a 52-week low and high of USD 27.46 and USD 41.22, respectively. The company’s performance is exposed to the risks related to the global slowdown as well as geopolitical tensions. Also, the climate related proceedings and legislation might result in alteration of the public utility model in the states it operates in which could adversely impact the business and operations. Therefore, investors should exit the stock.
Hence, a ‘Sell’ rating has been provided on the stock at the closing price of USD 36.24 per share, up by 12.97% as on 7 March 2024
Technical Overview:
Daily Price Chart
AGR Daily Technical Chart, Data Source: REFINITIV
Markets are trading in a highly volatile zone currently due to certain macro-economic and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.
Note 1: Past performance is neither an indicator nor a guarantee of future performance.
Note 2: The reference date for share price chart and stock valuation is based on March 7, 2024. The reference data in this report has been partly sourced from REFINITIV.
Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.
Kalkine Equities LLC provides general information about companies and their securities. The information contained in the reports, including any recommendations regarding the value of or transactions in any securities, does not take into account any of your investment objectives, financial situation or needs. Kalkine Equities LLC is not registered as an investment adviser in the U.S. with either the federal or state government. Before you make a decision about whether to invest in any securities, you should take into account your own objectives, financial situation and needs and seek independent financial advice. All information in our reports represents our views as at the date of publication and may change without notice.
Kalkine Media LLC, an affiliate of Kalkine Equities LLC, may have received, or be entitled to receive, financial consideration in connection with providing information about certain entity(s) covered on its website.
US
CA
NZ
UK
AU
IND
Please wait processing your request...