Avangrid (NYSE:AGR) Releases Quarterly Earnings Results, Beats Estimates By $0.18 EPS

Avangrid (NYSE:AGR) issued its quarterly earnings data on Wednesday. The utilities provider reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.18, Briefing.com reports. Avangrid had a net margin of 10.80% and a return on equity of 4.37%. The business had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter in the previous year, the company earned $0.64 EPS. The business’s revenue was down 2.0% on a year-over-year basis.

Avangrid Trading Up 0.3 %

Shares of AGR stock traded up $0.10 on Friday, hitting $36.65. The company had a trading volume of 105,681 shares, compared to its average volume of 912,234. The stock’s 50-day moving average is $34.80 and its two-hundred day moving average is $32.61. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.56 and a current ratio of 0.65. The firm has a market cap of $14.18 billion, a P/E ratio of 15.82, a P/E/G ratio of 2.77 and a beta of 0.56. Avangrid has a twelve month low of $27.46 and a twelve month high of $41.22.

Avangrid Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 4.80%. The ex-dividend date is Friday, May 31st. Avangrid’s dividend payout ratio is currently 76.19%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. StockNews.com raised Avangrid from a “sell” rating to a “hold” rating in a report on Friday, February 23rd. Janney Montgomery Scott reaffirmed a “sell” rating and set a $35.00 price objective on shares of Avangrid in a research report on Friday, March 8th. Mizuho raised their target price on shares of Avangrid from $33.00 to $34.00 and gave the company a “neutral” rating in a report on Wednesday, January 3rd. Finally, Wells Fargo & Company upped their target price on Avangrid from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Friday, February 23rd. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to MarketBeat, Avangrid has an average rating of “Hold” and an average price target of $34.75.

Avangrid Company Profile

Avangrid, Inc, an energy services holding company, engages in the regulated energy transmission and distribution, and renewable energy generation businesses in the United States. The company operates through Networks and Renewables segments. It is involved in the generation, transmission, and distribution of electricity; and distribution, transportation, and sale of natural gas.