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

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

Avangrid Trading Up 0.4 %

Shares of Avangrid stock traded up $0.15 during trading on Friday, hitting $36.70. 111,561 shares of the company were exchanged, compared to its average volume of 912,339. The firm has a market capitalization of $14.19 billion, a P/E ratio of 15.82, a price-to-earnings-growth ratio of 2.77 and a beta of 0.56. The firm’s fifty day moving average price is $34.80 and its 200 day moving average price is $32.61. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.65 and a quick ratio of 0.56. Avangrid has a 1-year low of $27.46 and a 1-year high of $41.22.

Avangrid Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.80%. The ex-dividend date of this dividend is Friday, May 31st. Avangrid’s dividend payout ratio (DPR) is currently 76.19%.

Analyst Ratings Changes

Several brokerages have recently commented on AGR. Wells Fargo & Company boosted their target price on shares of Avangrid from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note 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 note on Friday, March 8th. StockNews.com raised shares of Avangrid from a “sell” rating to a “hold” rating in a report on Friday, February 23rd. Finally, Mizuho boosted their target price on Avangrid from $33.00 to $34.00 and gave the stock a “neutral” rating in a report on Wednesday, January 3rd. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus 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.