Avangrid (NYSE:AGR) Issues Quarterly Earnings Results, Beats Estimates By $0.22 EPS

Avangrid (NYSE:AGR) posted its quarterly earnings data on Tuesday. The utilities provider reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.22, Briefing.com reports. Avangrid had a return on equity of 4.87% and a net margin of 11.35%. The company had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.04 billion. During the same period last year, the firm earned $0.27 EPS. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis.

Avangrid Stock Up 0.1 %

Shares of NYSE:AGR opened at $35.80 on Thursday. The company has a market capitalization of $13.85 billion, a P/E ratio of 15.50, a P/E/G ratio of 2.66 and a beta of 0.55. The company has a quick ratio of 0.44, a current ratio of 0.52 and a debt-to-equity ratio of 0.49. The stock’s fifty day simple moving average is $35.78 and its 200-day simple moving average is $35.85. Avangrid has a 52-week low of $28.75 and a 52-week high of $37.70.

Avangrid Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.76 annualized dividend and a dividend yield of 4.92%. Avangrid’s dividend payout ratio is currently 76.19%.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on Avangrid in a research note on Monday. They set a “hold” rating for the company.

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.