AVANGRID (AGR) to Acquire PNM Resources (PNM) for $50.30/Share
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Iberdrola, PNM to create $20 billion U.S. clean powerhouse
October 21, 2020 1:50 AM EDTBy Isla Binnie and Jose ElÃas RodrÃguez
MADRID (Reuters) - Spain's Iberdrola (OTCBB: IBE) announced a deal worth $8.3 billion including debt on Wednesday, adding PNM Resources (NYSE: PNM) to its Avangrid (NYSE: AGR) business to create the third-largest U.S. renewable energy operator.
Absorbing PNM into Avangrid will create an operator present in 24 states, Iberdrola said, and bring together firms with a combined market value topping $20 billion.
... MoreAvangrid (AGR) Misses Q3 EPS by 9c, Updates FY EPS Guidance
October 20, 2020 4:17 PM EDTAvangrid (NYSE: AGR) reported Q3 EPS of $0.32, $0.09 worse than the analyst estimate of $0.41. Revenue for the quarter came in at $1.47 billion versus the consensus estimate of $1.52 billion.
GUIDANCE:
Avangrid sees FY2020 EPS of $1.90-$2.00, versus the consensus of $2.17.
For earnings history and earnings-related data on Avangrid (AGR) click here.
... MoreAVANGRID (AGR) PT Raised to $52 at Morgan Stanley
October 20, 2020 9:38 AM EDTMorgan Stanley raised its price target on AVANGRID (NYSE: AGR) to $52.00 (from $50.00) while maintaining a Equalweight rating.... More
