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 (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.18, Briefing.com reports. The company had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.54 billion. Avangrid had a return on equity of 3.92% and a net margin of 9.46%. Avangrid’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period last year, the firm earned $0.64 earnings per share.

Avangrid Stock Up 0.5 %

Shares of AGR stock traded up $0.17 during trading hours on Wednesday, hitting $37.01. 106,228 shares of the company’s stock traded hands, compared to its average volume of 916,657. The stock’s fifty day simple moving average is $34.56 and its two-hundred day simple moving average is $32.55. Avangrid has a 12-month low of $27.46 and a 12-month high of $41.22. The stock has a market cap of $14.31 billion, a price-to-earnings ratio of 18.15, a PEG ratio of 2.77 and a beta of 0.56. 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. Stockholders 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 dividend yield of 4.76%. Avangrid’s payout ratio is 86.70%.

Analysts Set New Price Targets

Several analysts recently issued reports on AGR shares. Janney Montgomery Scott reissued a “sell” rating and issued a $35.00 target price on shares of Avangrid in a research note on Friday, March 8th. StockNews.com raised Avangrid from a “sell” rating to a “hold” rating in a research note on Friday, February 23rd. Wells Fargo & Company raised 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. Finally, Mizuho raised their price objective on shares of Avangrid from $33.00 to $34.00 and gave the stock a “neutral” rating in a report on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus 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.