Avangrid, Inc.

Informe acción NYSE:AGR

Capitalización de mercado: US$13.9b

This company has been acquired

The company may no longer be operating, as it has been acquired. Find out why through their latest events.

Avangrid Dirección

Dirección controles de criterios 2/4

El CEO de Avangrid es Pedro Azagra Blazquez , nombrado en May 2022, tiene una permanencia de 2.58 años. compensación anual total es $10.69M, compuesta por 10.8% salario y 89.2% primas, incluidas acciones y opciones de la empresa. posee directamente un 0.008% de las acciones de la empresa, por valor de $1.10M. La antigüedad media del equipo directivo y de la junta directiva es de 1.5 años y 7.3 años, respectivamente.

Información clave

Pedro Azagra Blazquez

Chief Executive Officer (CEO)

US$10.7m

Compensación total

Porcentaje del salario del CEO10.76%
Permanencia del CEO2.6yrs
Participación del CEO0.008%
Permanencia media de la dirección1.5yrs
Promedio de permanencia en la Junta Directiva7.3yrs

Actualizaciones recientes de la dirección

Recent updates

Seeking Alpha • Dec 27

Avangrid: There Are Better Utilities To Buy

Summary Avangrid, an energy services and delivery company, generated $1.92bn in revenues in Q3'23, a 10.73% YoY decline. The company aims for sustainable earnings growth, network growth, and ESG inclusion to remain a stable income pick. Avangrid's stock has underperformed the utility industry and the wider market, and it has the poorest performance among its peers. Read the full article on Seeking Alpha
Seeking Alpha • Oct 11

Avangrid: Dividend Should Be Suspended To Protect Cash

Summary Avangrid's stock has declined over 33% in the past 16+ months due to missed earnings projections and rising US bond yields. The company's dividend yield is currently 5.84%, which may attract long-term investors who see the stock as undervalued. Avangrid's dividend growth rates have been negligible over the past decade, and its dividend payout ratio is not sustainable due to free cash flow deficits. Read the full article on Seeking Alpha
Seeking Alpha • Jul 28

Avangrid Inc.: Expanding Wind Farms In Hopes Of Reaching Growth Targets

Summary Avangrid Inc. has shown strong results in the renewable energy industry, attracting capital and incentives to invest. The company has a solid market position in the offshore wind market and a history of growing its capacities. However, the growth outlook for AGR is slow compared to other companies in the sector, and its valuation is in line with the industry. AGR is considered a hold rather than a buy. Read the full article on Seeking Alpha
Seeking Alpha • Feb 21

Avangrid Non-GAAP EPS of $0.29 misses by $0.11, revenue of $2.16B beats by $350M

Avangrid press release (NYSE:AGR): Q4 Non-GAAP EPS of $0.29 misses by $0.11. Revenue of $2.16B (+11.9% Y/Y) beats by $350M. 2023 Earnings and Adjusted Earnings Outlook of $1.90-$2.10 per share and $2.20-$2.35 per share vs. $2.29 consensus, respectively; reiterating 6-7% EPS and Adjusted EPS Cumulative Annual Growth Rate through 2025 off of the mid-point of 2022 EPS outlook
Seeking Alpha • Oct 06

Avangrid: Risks Outweigh The Reward

Summary Avangrid kicks off its first investor day with new CEO Pedro Azagra at the helm. The mid-term financial targets were revised lower, but could still be vulnerable to downgrades depending on execution. At the current rich valuation, the risk/reward seems unfavorable at these levels. New CEO Pedro Azagra kicked off his tenure at Avangrid (AGR) with an aggressive growth message, although operating challenges still led to the mid-term EPS target range being lowered to 6-7% CAGR through 2025. To be clear, AGR's growth and dividend potential as a regulated utility are compelling over the long run - through increased investments and the partial sale of its onshore renewable ownership stakes, AGR is on track to build out a more stable earnings stream. Yet, execution remains the key overhang to the outlook over the next twelve months. In particular, the outcome of the pending New York/Connecticut/Maine rate cases could drive significant upward (or downward) revisions to the guidance, along with the pending PNM acquisition. At ~12x EBITDA, the valuation is also rich given the rate case risk and execution challenges ahead. Data by YCharts Offshore Wind as the Key Renewables Driver The primary renewables focus for AGR remains wind (offshore and onshore). For onshore wind, the company is adopting a more risk-adjusted approach via a partnership model. In line with this shift, AGR will sell down ~60% of its 2024-2025 onshore projects, with total onshore megawatts growth down to ~650MW through 2025 (vs the prior plan for ~2.3GW of onshore additions). Given the recent Inflation Reduction Act singled out the importance of renewables as a long-term focus, the lower onshore development targets came as a surprise. Expect the earnings growth potential to move lower as a result, although the move does free up equity financing for other projects or transactions. In the meantime, AGR's offshore scale at 2.4GW (under power purchase agreements) remains intact and should support the overall outlook for the renewables segment. Avangrid For now, execution is the key concern - AGR is guiding for further delays to the commercial operation date for Park City/Commonwealth due to the current supply chain challenges and interest rate headwinds. To mitigate the risk, AGR is increasingly de-risking its cash flow by expanding its regulated utility exposure to offset the risk (mainly via investments and sell downs of its onshore/offshore renewable ownership stakes). Still, I would remain cautious on the project risk associated with building out offshore wind farms, particularly given the limited visibility into project returns at this early stage of the industry cycle. Avangrid A Challenging Mid-Term Financial Outlook AGR's EPS CAGR over the 2022-2025 period now stands at 6-7% (down from the prior 6-8%), inclusive of contribution from PNM and New England Clean Energy Connect (NECEC), as well as new onshore renewables partnerships. The outlook also incorporates a $1.9bn equity raise in FY24 (although asset monetization could reduce the final amount) and proceeds from a partial sale of the Kitty Hawk lease. Of these, AGR's pending PNM acquisition is the top growth driver of the base case - even though an outcome is far from certain given AGR is still litigating in the New Mexico courts. At this stage, I don't take a view on the likelihood of a transaction closing, but would note the significant implications of a deal break to the earnings outlook (negative), as well as the balance sheet (positive, as it negates any future equity financing). Avangrid Beyond the PNM deal, following through on the planned renewable asset sales also represents a crucial step to achieving the mid-term target, particularly given the contribution has already been included in adj EPS. The bar is high for AGR's 2022 EPS guidance as well - at the $2.29/share mid-point, AGR is penciling in a sizeable ~$0.46/share of benefit from one-time offshore wind lease area gains. The current 2023 EPS expectations of around $2.20-$2.40/share also incorporates ~$100m of pre-tax contribution from the partial sale of its Kitty Hawk offshore wind lease area (equivalent to (~$0.20 of EPS). In sum, the execution bar is high and any challenges could result in more earnings downgrades ahead. Pending Rate Cases are the Key Near-Term Swing Factor AGR's active New York/Connecticut/Maine rate cases present material upside/downside to estimates, given these multi-year plans (through 2026) entail capital investments and ROEs well in excess of AGR's revised outlook. AGR has also not incorporated the requested capital/rate base increases in its current ~7% rate base growth outlook, so favorable (or unfavorable) outcomes will be worth keeping an eye on. For context, the NY rate case, the most material of the three, calls for a massive multi-year rate plan requiring $8.6bn of investments over the next three years. The capital outlay will need to be weighed against the ongoing impact of elevated commodity prices on customer bills, though, with the challenging backdrop likely weighing on rate activity going forward. In sum, securing multi-year plans without lofty efficiency targets will be a delicate balancing act for AGR's networks segment and thus, increases the execution risk.

Análisis de compensación del CEO

¿Cómo ha cambiado la remuneración de Pedro Azagra Blazquez en comparación con los beneficios de Avangrid?
FechaCompensación totalSalarioIngresos de la empresa
Sep 30 2024n/an/a

US$1b

Jun 30 2024n/an/a

US$976m

Mar 31 2024n/an/a

US$892m

Dec 31 2023US$11mUS$1m

US$786m

Sep 30 2023n/an/a

US$536m

Jun 30 2023n/an/a

US$582m

Mar 31 2023n/an/a

US$681m

Dec 31 2022US$5mUS$641k

US$881m

Sep 30 2022n/an/a

US$898m

Jun 30 2022n/an/a

US$904m

Mar 31 2022n/an/a

US$818m

Dec 31 2021US$140kn/a

US$707m

Sep 30 2021n/an/a

US$709m

Jun 30 2021n/an/a

US$685m

Mar 31 2021n/an/a

US$675m

Dec 31 2020US$140kn/a

US$581m

Sep 30 2020n/an/a

US$605m

Jun 30 2020n/an/a

US$668m

Mar 31 2020n/an/a

US$690m

Dec 31 2019US$70kn/a

US$667m

Sep 30 2019n/an/a

US$596m

Jun 30 2019n/an/a

US$571m

Mar 31 2019n/an/a

US$568m

Dec 31 2018US$140kn/a

US$587m

Compensación vs. Mercado: La compensación total ($USD10.69M) de Pedro Azagra está en línea con el promedio de empresas de tamaño similar en el mercado US ($USD14.74M).

Compensación vs. Ingresos: La compensación de Pedro Azagra ha aumentado más de un 20% en el último año.

CEO

Pedro Azagra Blazquez (56 yo)

2.6yrs
Permanencia
US$10,689,792
Compensación

Mr. Pedro Azagra Blazquez served as Director of Corporate Development of Iberdrola, S. A. since 2008 until June 1, 2022. He served as the Chief Development Officer of Iberdrola from 2008 to May 2022. He se...

Equipo directivo

NombrePosiciónPermanenciaCompensaciónPropiedad
Pedro Azagra Blazquez
CEO & Director2.6yrsUS$10.69m0.0079%
$ 1.1m
Justin Lagasse
CFO, Senior VP & Controller1.4yrsUS$1.11m0.00050%
$ 69.7k
R. Mahoney
Senior VP9yrsUS$3.14m0.0015%
$ 213.2k
Jose Miranda Soto
President & CEO of Avangrid Renewablesno dataUS$3.23m0.0018%
$ 243.9k
Nelly Jefferson
Chief Information Officerless than a yearsin datossin datos
Charlotte Ancel
Vice President of Investor Relationsno datasin datossin datos
German Avecilla
VP & Chief Compliance Officer1.2yrssin datossin datos
Kimberly Harriman
Senior Vice President of Public & Regulatory Affairs2.5yrssin datossin datos
John O'Neil
Senior VP & Head of People and Organizationless than a yearsin datossin datos
Ignacio Estella
Senior Vice President of DEIless than a yearsin datossin datos
Nacho Arronte
VP & Chief Risk Officer2.8yrssin datossin datos
Alfredo Canto
Senior VP & Chief of Staff1.7yrssin datossin datos
1.5yrs
Permanencia media
53yo
Promedio de edad

Equipo directivo experimentado: El equipo directivo de AGR no se considera experimentado ( 1.5 años antigüedad media), lo que sugiere un nuevo equipo.

Miembros de la Junta

NombrePosiciónPermanenciaCompensaciónPropiedad
Pedro Azagra Blazquez
CEO & Director5yrsUS$10.69m0.0079%
$ 1.1m
David Flanagan
Executive Chairman of CMP4.8yrssin datossin datos
Teresa Ellen Herbert
Independent Director5.5yrsUS$200.00k0.00026%
$ 36.2k
John Lahey
Independent Non-Executive Director9yrsUS$240.00k0.0057%
$ 794.4k
Alan Solomont
Independent Non-Executive Director10.9yrsUS$240.00k0.0029%
$ 397.2k
Jose Sanchez Galan
Non-Executive & Non-Independent Chairman of the Board10.9yrsUS$240.00k0.028%
$ 3.8m
Jose Armada
Director10.9yrsUS$200.00ksin datos
Santiago Martinez Garrido
Director9.8yrsUS$200.00ksin datos
Daniel Lopez
Director4.8yrsUS$170.00k0.00069%
$ 96.2k
John Baldacci
Independent Vice Chairman of the Board10.9yrsUS$240.00k0.000090%
$ 12.5k
Robert Duffy
Independent Director5.5yrsUS$240.00ksin datos
Maria Banez Garcia
Independent Director2.4yrsUS$240.00ksin datos
7.3yrs
Permanencia media
67yo
Promedio de edad

Junta con experiencia: La junta directiva de AGR se considera experimentada (7.3 años de antigüedad promedio).

Análisis de la empresa y estado de los datos financieros

DatosÚltima actualización (huso horario UTC)
Análisis de la empresa2024/12/23 21:58
Precio de las acciones al final del día2024/12/20 00:00
Beneficios2024/09/30
Ingresos anuales2023/12/31

Fuentes de datos

Los datos utilizados en nuestro análisis de empresas proceden de S&P Global Market Intelligence LLC. Los siguientes datos se utilizan en nuestro modelo de análisis para generar este informe. Los datos están normalizados, lo que puede introducir un retraso desde que la fuente está disponible.

PaqueteDatosMarco temporalEjemplo Fuente EE.UU. *
Finanzas de la empresa10 años
  • Cuenta de resultados
  • Estado de tesorería
  • Balance
Estimaciones del consenso de analistas+3 años
  • Previsiones financieras
  • Objetivos de precios de los analistas
Precios de mercado30 años
  • Precios de las acciones
  • Dividendos, escisiones y acciones
Propiedad10 años
  • Accionistas principales
  • Información privilegiada
Gestión10 años
  • Equipo directivo
  • Consejo de Administración
Principales avances10 años
  • Anuncios de empresas

* Ejemplo para valores de EE.UU., para no EE.UU. se utilizan formularios y fuentes normativas equivalentes.

A menos que se especifique lo contrario, todos los datos financieros se basan en un periodo anual, pero se actualizan trimestralmente. Esto se conoce como datos de los últimos doce meses (TTM) o de los últimos doce meses (LTM). Más información.

Modelo de análisis y copo de nieve

Los detalles del modelo de análisis utilizado para generar este informe están disponibles en nuestra página de Github, también tenemos guías sobre cómo utilizar nuestros informes y tutoriales en Youtube.

Conozca al equipo de talla mundial que diseñó y construyó el modelo de análisis Simply Wall St.

Métricas industriales y sectoriales

Simply Wall St calcula cada 6 horas nuestras métricas sectoriales y de sección. Los detalles de nuestro proceso están disponibles en Github.

Fuentes analistas

Avangrid, Inc. está cubierta por 11 analistas. 5 de esos analistas presentaron las estimaciones de ingresos o ganancias utilizadas como datos para nuestro informe. Las estimaciones de los analistas se actualizan a lo largo del día.

AnalistaInstitución
Eric BeaumontBarclays
Paul ZimbardoBofA Global Research
Gregory GordonEvercore ISI