Avangrid (NYSE:AGR) Releases Quarterly Earnings Results, Beats Estimates By $0.22 EPS

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

Avangrid Stock Performance

AGR stock traded up $0.03 on Thursday, reaching $35.53. The company’s stock had a trading volume of 138,725 shares, compared to its average volume of 869,902. Avangrid has a 52 week low of $27.46 and a 52 week high of $38.91. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.58 and a quick ratio of 0.50. The company has a market capitalization of $13.75 billion, a P/E ratio of 15.37, a price-to-earnings-growth ratio of 2.67 and a beta of 0.55. The firm has a fifty day moving average of $35.58 and a two-hundred day moving average of $34.55.

Avangrid Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders 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 dividend yield of 4.95%. Avangrid’s dividend payout ratio (DPR) is presently 76.19%.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on shares of Avangrid in a report on Thursday. They issued a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating and three have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average 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.