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

Avangrid (NYSE:AGR) posted its earnings results on Wednesday. The utilities provider reported $0.88 earnings per share 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 for the quarter was down 2.0% compared to the same quarter last year. During the same period last year, the firm posted $0.64 earnings per share.

Avangrid Price Performance

Shares of NYSE AGR opened at $36.55 on Friday. The business’s 50 day moving average price is $34.80 and its 200 day moving average price is $32.61. The firm has a market cap 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 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 Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts have commented on the stock. Janney Montgomery Scott reaffirmed a “sell” rating and set a $35.00 price objective on shares of Avangrid in a research note on Friday, March 8th. Mizuho lifted 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. StockNews.com upgraded Avangrid from a “sell” rating to a “hold” rating in a research report on Friday, February 23rd. Finally, Wells Fargo & Company lifted their target price on Avangrid from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Friday, February 23rd. One research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average 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.