Reasons To Add Avangrid (AGR) Stock To Your Portfolio Now
Zacks Investment Research | Sep 25, 2019 08:42AM ET
Avangrid, Inc.’s (NYSE:AGR) long-term capital investments and upcoming renewables projects are expected to boost earnings.
Let’s take a look at the factors that are working in favor of this Zacks Rank #2 (Buy) utility company.
Growth Projections
The Zacks Consensus Estimate for 2019 earnings per share is pegged at $2.26 on $6.48-billion revenues. The bottom and the top line are expected to rise year over year, which indicates increase of 2.26% and 0.01%, respectively.
The consensus mark for 2020 earnings is pegged at $2.45 per share on revenues of $6.81 billion. While the bottom line suggests 8.55% increase, the top line calls for a 5.12% rise on a year-over-year basis.
Long-Term Growth & Price Performance
The company’s long-term (three to five years) earnings growth is pegged at 7.50%.
In the past three years, shares of Avangrid have surged 21.3% compared with the Zacks Investment Research
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