Avangrid (NYSE:AGR) Announces Earnings Results

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

Avangrid Stock Performance

Shares of NYSE AGR opened at $35.72 on Wednesday. Avangrid has a 1-year low of $28.75 and a 1-year high of $37.70. The company has a current ratio of 0.52, a quick ratio of 0.44 and a debt-to-equity ratio of 0.49. The stock’s 50-day moving average is $35.78 and its 200 day moving average is $35.85. The stock has a market cap of $13.82 billion, a price-to-earnings ratio of 15.46, a P/E/G ratio of 2.66 and a beta of 0.55.

Avangrid Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.93%. The ex-dividend date is Monday, December 2nd. Avangrid’s payout ratio is currently 76.19%.

Wall Street Analysts Forecast Growth

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

About Avangrid

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.