Welcome to our dedicated page for Avangrid news (Ticker: AGR), a resource for investors and traders seeking the latest updates and insights on Avangrid stock.
Avangrid Inc. (NYSE: AGR) operates at the intersection of regulated utilities and renewable energy innovation, serving millions across key U.S. markets. This dedicated news hub provides investors and industry observers with essential updates spanning earnings announcements, regulatory developments, and renewable energy project milestones.
Key resources include: Quarterly financial results, strategic partnership disclosures, grid modernization initiatives, and wind power expansion updates. Our curated collection ensures transparent access to material events shaping AGR's position in the evolving energy landscape.
Bookmark this page for streamlined tracking of operational developments across both utility segments - including electric/gas distribution in New York and New England - and renewable operations managing over 8.6 GW of clean energy capacity. Stay informed about critical filings, leadership updates, and sustainability commitments through verified primary sources.
AVANGRID, Inc. (NYSE: AGR) announced a quarterly dividend of $0.44 per share, payable on January 4, 2021, to shareholders of record as of December 11, 2020. The company, with approximately $36 billion in assets, operates across 24 U.S. states through its two main segments: Avangrid Networks and Avangrid Renewables. Avangrid serves over 3.3 million customers and was recognized as one of the World's Most Ethical Companies in both 2019 and 2020.
AVANGRID (NYSE: AGR) has partnered with EV Connect to enhance its electric vehicle (EV) services through advanced data analytics. This collaboration aims to forecast electricity needs, assess grid impacts, and inform infrastructural planning for a robust EV charging ecosystem. AVANGRID will utilize data to address commercial, industrial, and home charging requirements while planning for its fleet's electrification. The initiative aligns with AVANGRID's sustainability goals, supporting strategic investments for a decarbonized economy.
AVANGRID (NYSE: AGR) has appointed Kim Harriman as Vice President of State Government and Public Affairs, effective December 14. Harriman brings extensive experience in public policy and government affairs from her previous role at the New York Power Authority (NYPA), where she led advocacy and managed community engagement. The company aims to leverage her expertise in advancing its policy strategies to meet climate goals and enhance its role in the energy transition, as stated by Deputy CEO Robert Kump.
AVANGRID (NYSE: AGR) will host its first virtual investor day on November 5, 2020, at 1:00 p.m. ET, to discuss 2021 earnings guidance and a strategic outlook through 2025. The company anticipates earnings between $2.15 and $2.35 per share and projects 6-8% annual EPS growth. AVANGRID plans to invest over $20 billion in regulated and contracted projects, including $4.3 billion related to its merger with PNM Resources. The investor day aims to present AVANGRID's sustainable business model within the ESG framework and highlight its commitment to clean energy innovations.
AVANGRID (NYSE: AGR) announced the U.S. Army Corps of Engineers has approved the New England Clean Energy Connect (NECEC), a pivotal renewable energy project. This corridor will transport hydropower from Quebec to New England, generating over $570 million for Maine's economy, creating 1,600 jobs, and cutting greenhouse emissions by three million metric tons annually. With a total investment of $950 million, the NECEC aims to be the region's largest renewable energy source, significantly reducing energy costs for consumers while enhancing the local energy grid.
PNM Resources and AVANGRID announced a merger agreement whereby AVANGRID will acquire PNM Resources for $50.30 per share, signaling a total equity value of approximately $4.3 billion. This transaction, expected to close between October and December 2021, aims to establish a robust regulated utility and renewable energy platform, serving over 4 million customers and encompassing a $14 billion rate base. The merger is seen as strategically beneficial for both companies, enhancing operational synergies and supporting a transition to clean energy.
AVANGRID (NYSE: AGR) has announced the merger with PNM Resources (NYSE: PNM), following approval from both boards. This strategic transaction aims to enhance AVANGRID's clean energy distribution and transmission capabilities and is projected to be EPS accretive in the first full year post-closing. Shareholders of PNM will receive approximately $4.318 billion in cash, representing a premium of 10% over PNM's recent share price. The merger, contingent on regulatory approvals, is expected to support AVANGRID's growth in regulated earnings, which is anticipated to exceed 80% after integration.
AVANGRID, Inc. (NYSE: AGR) reported a consolidated GAAP net income of $87 million ($0.28/share) for Q3 2020, down from $150 million ($0.48/share) in Q3 2019. Year-to-date net income reached $415 million ($1.34/share), compared to $477 million ($1.54/share) in 2019.
Challenges included increased expenses, lower wind production, and market pricing issues. The updated full-year outlook is $1.90-$2.00 per share. The company received recognition for its corporate citizenship, ranking first in the utility industry on Forbes' JUST 100 list.
AVANGRID (NYSE: AGR) has appointed Franklyn D. Reynolds as the new leader of Avangrid Networks' gas and electric companies in Connecticut and Massachusetts, effective immediately. Reynolds, who has over 20 years of experience with the company, will oversee United Illuminating and several gas services, impacting nearly 765,000 customers. His previous roles include President of Berkshire Gas and Vice President of Gas Integration. Reynolds aims to enhance customer service and innovation within the organization, succeeding Anthony Marone, who was promoted to President & CEO of Avangrid Networks in 2019.
AVANGRID (NYSE: AGR) has appointed Puneet Verma as Vice President of Federal Government Affairs. Verma, with a strong background in the energy sector, will steer the company’s federal advocacy efforts for its diverse business sectors, notably in offshore wind. CEO Dennis Arriola highlighted Verma's strategic leadership and existing relationships in Washington as crucial for AVANGRID's growth. Previously, Verma was with Chevron, focusing on governmental and legislative affairs. AVANGRID is dedicated to sustainable energy solutions, with operations across 24 U.S. states.
