Avangrid (NYSE:AGR) posted its earnings results on Sunday. The utilities provider reported $1.14 EPS for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.40, MarketWatch Earnings reports. The business had revenue of $1.97 billion during 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 quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.76 EPS.
Shares of AGR traded up $0.68 during trading hours on Tuesday, hitting $51.64. The stock had a trading volume of 748,479 shares, compared to its average volume of 587,703. The stock has a fifty day moving average price of $50.47 and a 200 day moving average price of $48.00. Avangrid has a 12 month low of $38.78 and a 12 month high of $56.20. The firm has a market capitalization of $15.98 billion, a PE ratio of 25.07, a PEG ratio of 4.35 and a beta of 0.21. 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 company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 1st. Investors of record on Friday, June 4th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend is Thursday, June 3rd. Avangrid’s payout ratio is currently 81.11%.
A number of analysts have commented on the company. Janney Montgomery Scott raised Avangrid from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $45.00 to $55.00 in a report on Thursday, February 25th. Mizuho assumed coverage on Avangrid in a report on Tuesday. They issued a “neutral” rating and a $52.00 target price for the company. Finally, Zacks Investment Research raised Avangrid from a “sell” rating to a “hold” rating in a report on Friday, February 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. Avangrid has a consensus rating of “Hold” and a consensus target price 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.
Featured Article: What is Net Asset Value (NAV)?
Receive News & Ratings for Avangrid Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avangrid and related companies with MarketBeat.com's FREE daily email newsletter.