Avangrid (NYSE:AGR) Announces Quarterly Earnings Results

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

Avangrid Price Performance

Shares of NYSE AGR opened at $35.79 on Friday. The firm has a market cap of $13.85 billion, a P/E ratio of 15.49, a price-to-earnings-growth ratio of 2.66 and a beta of 0.55. The company has a current ratio of 0.52, a quick ratio of 0.44 and a debt-to-equity ratio of 0.49. Avangrid has a 1-year low of $28.75 and a 1-year high of $37.70. The business’s 50 day moving average is $35.78 and its 200-day moving average is $35.85.

Avangrid Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.92%. Avangrid’s dividend payout ratio (DPR) is currently 76.19%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on Avangrid in a research note on Monday. They issued a “hold” rating on the stock.

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.