Avangrid (NYSE:AGR) Announces Earnings Results

Avangrid (NYSE:AGR) announced its 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 business had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Avangrid had a return on equity of 4.89% and a net margin of 11.35%. The business’s revenue for the quarter was up 21.2% on a year-over-year basis. During the same period last year, the firm posted $0.21 earnings per share.

Avangrid Stock Performance

NYSE AGR opened at $35.52 on Friday. The business has a 50-day moving average price of $35.54 and a 200-day moving average price of $34.56. The firm has a market cap of $13.74 billion, a price-to-earnings ratio of 15.38, a price-to-earnings-growth 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. The company has a quick ratio of 0.50, a current ratio of 0.58 and a debt-to-equity ratio of 0.47.

Avangrid Dividend Announcement

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

Analyst Ratings Changes

Separately, StockNews.com started 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 company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price 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.