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

Avangrid (NYSE:AGR) posted its quarterly earnings results on Tuesday. The utilities provider reported $0.49 EPS for the quarter, beating the consensus estimate of $0.27 by $0.22, Briefing.com reports. The company had revenue of $1.92 billion for 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 firm’s revenue was up 21.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.21 earnings per share.

Avangrid Stock Performance

NYSE AGR opened at $35.52 on Friday. The stock has a market capitalization of $13.74 billion, a price-to-earnings ratio of 15.38, a PEG ratio of 2.67 and a beta of 0.55. The stock has a 50-day moving average of $35.54 and a 200 day moving average of $34.56. The company has a current ratio of 0.58, a quick ratio of 0.50 and a debt-to-equity ratio of 0.47. Avangrid has a twelve month low of $27.46 and a twelve month high of $38.91.

Avangrid Dividend Announcement

The firm also recently announced 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. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.95%. The ex-dividend date is Friday, August 30th. Avangrid’s dividend payout ratio (DPR) is presently 76.19%.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on Avangrid in a research note on Thursday. They issued a “hold” rating on the stock. One analyst has rated the stock with a sell rating and three have given a hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $34.67.

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.