Avangrid (NYSE:AGR) Issues Quarterly Earnings Results


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Avangrid (NYSE:AGR) released its quarterly earnings data on Sunday. The utilities provider reported $1.14 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.40, MarketWatch Earnings reports. The business had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.82 billion. Avangrid had a return on equity of 4.20% and a net margin of 10.19%. The company’s revenue was up 9.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.76 EPS.

Avangrid stock traded up $0.68 during midday trading on Tuesday, hitting $51.64. 748,479 shares of the stock were exchanged, compared to its average volume of 587,703. Avangrid has a 1 year low of $38.78 and a 1 year high of $56.20. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.46 and a quick ratio of 0.40. The firm has a market cap of $15.98 billion, a P/E ratio of 25.07, a P/E/G ratio of 4.35 and a beta of 0.21. The company has a 50 day moving average price of $50.42 and a two-hundred day moving average price of $48.02.

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 1st. Stockholders of record on Friday, June 4th will be paid a $0.44 dividend. The ex-dividend date is Thursday, June 3rd. This represents a $1.76 annualized dividend and a dividend yield of 3.41%. Avangrid’s dividend payout ratio (DPR) is presently 81.11%.

A number of brokerages have weighed in on AGR. Janney Montgomery Scott raised shares of Avangrid from a “neutral” rating to a “buy” rating and lifted their price target for the company from $45.00 to $55.00 in a research report on Thursday, February 25th. Zacks Investment Research upgraded shares of Avangrid from a “sell” rating to a “hold” rating in a report on Friday, February 26th. Finally, Mizuho initiated coverage on Avangrid in a report on Tuesday. They issued a “neutral” rating and a $52.00 price target for the company. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $53.00.

Avangrid Company Profile

Avangrid, Inc operates as an energy services holding company in the United States. It operates through two segments, Networks and Renewables. The company engages in the generation, transmission, and distribution of electricity, as well as distribution, transportation, and sale of natural gas. It also develops, constructs, and operates renewable energy generation facilities primarily using onshore wind power, as well as solar, biomass, and thermal power.

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Earnings History for Avangrid (NYSE:AGR)

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