Avangrid (NYSE:AGR) Releases Earnings Results

Avangrid (NYSE:AGR) posted 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 firm 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%. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.64 EPS.

Avangrid Price Performance

Avangrid stock traded up $0.17 during midday trading on Wednesday, reaching $37.01. 106,228 shares of the stock traded hands, compared to its average volume of 916,657. The stock’s fifty day moving average is $34.56 and its 200-day 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 P/E 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 company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date of this dividend is Friday, May 31st. Avangrid’s payout ratio is presently 86.70%.

Analysts Set New Price Targets

AGR has been the topic of a number of research reports. Mizuho upped their target price on Avangrid from $33.00 to $34.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 3rd. StockNews.com raised Avangrid from a “sell” rating to a “hold” rating in a report on Friday, February 23rd. Wells Fargo & Company lifted their price target 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, Janney Montgomery Scott reiterated a “sell” rating and issued a $35.00 price objective on shares of Avangrid in a research report on Friday, March 8th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat, Avangrid 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.