AGR Stock Summary and Trading Ideas (Avangrid | NYSE:AGR)

Avangrid operates two business units, Networks and Renewables. Networks operates eight regulated electric and natural gas utilities across New York, Maine, Connecticut, and Massachusetts, serving over 3 million customers. Renewables has historically focused on developing onshore wind projects but is looking to make developments in solar and offshore wind over the next five years. It operates nearly 8.6 gigawatts of renewable energy projects across the U.S. Spanish utility Iberdrola spun off Avangrid's predecessor, Iberdrola USA, in 2015. Iberdrola owns 81.6% of Avangrid and has proposed to acquire the remaining shares.

Avangrid trades on the NYSE stock market under the symbol AGR.

As of May 10, 2024, AGR stock price was flat at $36.85 with 636,028 million shares trading.

AGR has a beta of 0.68, meaning it tends to be less sensitive to market movements. AGR has a correlation of 0.08 to the broad based SPY ETF.

AGR has a market cap of $14.25 billion. This is considered a Large Cap stock.

Last quarter Avangrid reported $2 billion in Revenue and $.88 earnings per share. This fell short of revenue expectation by $-123 million and exceeded earnings estimates by $.20.

In the last 3 years, AGR stock traded as high as $55.57 and as low as $27.46.

The top ETF exchange traded funds that AGR belongs to (by Net Assets): VTI, VO, VXF, VTV, ICLN.

AGR has underperformed the market in the last year with a price return of -5.7% while the SPY ETF gained +27.8%. However, in the short term, AGR had mixed performance relative to the market. It has outperformed in the last 3 months, returning +22.7% vs +4.2% return in SPY. But in the last 2 weeks, AGR shares have been beat by the market, returning +1.3% compared to an SPY return of +2.5%.

AGR support price is $36.52 and resistance is $37.18 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that AGR stock will trade within this expected range on the day.