Avangrid (NYSE:AGR) Announces Quarterly Earnings Results

Avangrid (NYSE:AGR) released its quarterly earnings results on Tuesday. The utilities provider reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.18, Briefing.com reports. The firm had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.04 billion. Avangrid had a net margin of 11.35% and a return on equity of 4.87%. The business’s revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.27 EPS.

Avangrid Trading Up 0.1 %

NYSE AGR traded up $0.05 during mid-day trading on Tuesday, reaching $35.72. 627,819 shares of the stock were exchanged, compared to its average volume of 794,437. Avangrid has a one year low of $28.75 and a one year high of $37.70. The stock has a 50 day simple moving average of $35.78 and a 200-day simple moving average of $35.85. The stock has a market cap of $13.82 billion, a P/E ratio of 15.44, a P/E/G ratio of 2.66 and a beta of 0.55. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.52 and a quick ratio of 0.44.

Avangrid Dividend Announcement

The firm 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 dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 4.93%. The ex-dividend date of this dividend is Monday, December 2nd. Avangrid’s payout ratio is currently 76.19%.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on shares of Avangrid in a research report on Monday. They set a “hold” rating on the stock.

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.