Avangrid Earnings: Investors Await Take-Private Decision
We are maintaining our $35 per share Avangrid fair value estimate after the company reported first-quarter adjusted earnings of $0.88 per share, compared with $0.64 in the same year-ago period. Management reaffirmed its 2024 adjusted earnings outlook of $2.17 to $2.32, in line with our expectations. Our narrow moat is unchanged.