Avangrid (NYSE:AGR) Issues Earnings Results, Beats Expectations By $0.22 EPS

Avangrid (NYSE:AGR) posted its quarterly earnings results on Tuesday. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.22, Briefing.com reports. The firm had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.72 billion. Avangrid had a net margin of 11.35% and a return on equity of 4.89%. The company’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.21 earnings per share.

Avangrid Price Performance

Avangrid stock traded up $0.02 on Thursday, reaching $35.52. The company’s stock had a trading volume of 431,361 shares, compared to its average volume of 871,963. The business’s fifty day moving average price is $35.58 and its 200 day moving average price is $34.55. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.50 and a current ratio of 0.58. The company has a market cap of $13.74 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 2.67 and a beta of 0.55. Avangrid has a twelve month low of $27.46 and a twelve month high of $38.91.

Avangrid Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 2nd will be issued a dividend of $0.44 per share. The ex-dividend date is Friday, August 30th. This represents a $1.76 dividend on an annualized basis and a yield of 4.95%. Avangrid’s dividend payout ratio is 76.19%.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on Avangrid in a report on Thursday. They issued a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $34.67.

About Avangrid

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.