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

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

Avangrid Stock Up 0.1 %

Shares of NYSE:AGR traded up $0.04 during midday trading on Friday, hitting $36.59. The stock had a trading volume of 160,655 shares, compared to its average volume of 912,940. Avangrid has a 12 month low of $27.46 and a 12 month high of $41.22. The company has a quick ratio of 0.56, a current ratio of 0.65 and a debt-to-equity ratio of 0.48. The business’s 50-day simple moving average is $34.80 and its 200-day simple moving average is $32.61. The company has a market cap of $14.15 billion, a P/E ratio of 15.82, a PEG ratio of 2.77 and a beta of 0.56.

Avangrid Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a $0.44 dividend. The ex-dividend date is Friday, May 31st. This represents a $1.76 annualized dividend and a dividend yield of 4.81%. Avangrid’s dividend payout ratio is presently 76.19%.

Wall Street Analyst Weigh In

AGR has been the subject of several research analyst reports. Janney Montgomery Scott reiterated a “sell” rating and set a $35.00 target price on shares of Avangrid in a research note on Friday, March 8th. Mizuho upped their price target on shares of Avangrid from $33.00 to $34.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 3rd. StockNews.com upgraded shares of Avangrid from a “sell” rating to a “hold” rating in a research report on Friday, February 23rd. Finally, Wells Fargo & Company increased their target price on Avangrid from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Friday, February 23rd. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $34.75.

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.