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

Avangrid (NYSE:AGR) announced its earnings results on Wednesday. The utilities provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18, Briefing.com reports. The firm had revenue of $2.42 billion during 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%. Avangrid’s revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.64 EPS.

Avangrid Stock Performance

Shares of NYSE:AGR opened at $36.55 on Friday. The stock has a market capitalization of $14.14 billion, a P/E ratio of 15.82, a P/E/G ratio of 2.77 and a beta of 0.56. Avangrid has a 1-year low of $27.46 and a 1-year high of $41.22. The business has a 50-day moving average price of $34.80 and a two-hundred day moving average price of $32.61. The company has a current ratio of 0.65, a quick ratio of 0.56 and a debt-to-equity ratio of 0.48.

Avangrid Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.76 annualized dividend and a yield of 4.82%. Avangrid’s dividend payout ratio is currently 76.19%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Janney Montgomery Scott restated a “sell” rating and set a $35.00 price objective on shares of Avangrid in a research report on Friday, March 8th. Wells Fargo & Company increased their price target on Avangrid from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Friday, February 23rd. Mizuho raised their price objective on shares of Avangrid from $33.00 to $34.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 3rd. Finally, StockNews.com upgraded shares of Avangrid from a “sell” rating to a “hold” rating in a research note on Friday, February 23rd. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $34.75.

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.