Avangrid (NYSE:AGR) Issues Earnings Results, Beats Expectations By $0.18 EPS

Avangrid (NYSE:AGR) announced its quarterly earnings results on Wednesday. The utilities provider reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18, Briefing.com reports. The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.54 billion. Avangrid had a net margin of 10.80% and a return on equity of 4.37%. The company’s revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.64 EPS.

Avangrid Stock Performance

Shares of NYSE AGR traded up $0.15 during trading on Friday, reaching $36.70. 111,561 shares of the company traded hands, compared to its average volume of 912,339. The stock has a market capitalization of $14.19 billion, a PE ratio of 15.82, a P/E/G ratio of 2.77 and a beta of 0.56. The firm has a 50 day simple moving average of $34.80 and a 200-day simple moving average of $32.61. Avangrid has a 52-week low of $27.46 and a 52-week 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.

Avangrid Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 4.80%. The ex-dividend date is Friday, May 31st. Avangrid’s dividend payout ratio (DPR) is 76.19%.

Wall Street Analysts Forecast Growth

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