Avangrid (NYSE:AGR) Issues Quarterly Earnings Results

Avangrid (NYSE:AGR) posted its quarterly earnings results on Tuesday. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.18, Briefing.com reports. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.04 billion. Avangrid had a net margin of 11.35% and a return on equity of 4.87%. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.27 earnings per share.

Avangrid Stock Performance

Shares of AGR stock traded up $0.05 during trading hours on Tuesday, reaching $35.72. The company had a trading volume of 627,819 shares, compared to its average volume of 794,437. The business has a fifty day moving average price of $35.78 and a 200-day moving average price of $35.85. Avangrid has a one year low of $28.75 and a one year high of $37.70. The firm has a market cap of $13.82 billion, a PE ratio of 15.44, a price-to-earnings-growth ratio of 2.66 and a beta of 0.55. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.44 and a current ratio of 0.52.

Avangrid Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a $0.44 dividend. 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 4.93%. Avangrid’s dividend payout ratio is presently 76.19%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of Avangrid in a report on Monday. They issued 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.