Avangrid (NYSE:AGR) announced its earnings results on Tuesday, February 20th. The utilities provider reported $0.61 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.61, Bloomberg Earnings reports. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Avangrid had a net margin of 6.39% and a return on equity of 4.47%. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter last year, the company posted $0.67 EPS. Avangrid updated its FY18 guidance to $2.22-2.50 EPS.
Shares of Avangrid (NYSE AGR) traded up $0.49 during midday trading on Wednesday, hitting $49.57. 630,441 shares of the stock traded hands, compared to its average volume of 572,505. The company has a market cap of $15,170.00 and a price-to-earnings ratio of 190.65. The company has a quick ratio of 0.56, a current ratio of 0.69 and a debt-to-equity ratio of 0.31. Avangrid has a one year low of $41.86 and a one year high of $53.46.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Friday, March 9th will be paid a $0.432 dividend. This represents a $1.73 annualized dividend and a dividend yield of 3.49%. The ex-dividend date is Thursday, March 8th. Avangrid’s dividend payout ratio (DPR) is presently 665.38%.
Several hedge funds and other institutional investors have recently modified their holdings of AGR. BlackRock Inc. boosted its stake in Avangrid by 3.4% during the 4th quarter. BlackRock Inc. now owns 2,108,792 shares of the utilities provider’s stock worth $106,661,000 after acquiring an additional 69,806 shares during the last quarter. Jennison Associates LLC bought a new position in Avangrid during the 4th quarter worth approximately $41,350,000. State Street Corp boosted its stake in Avangrid by 2.7% during the 2nd quarter. State Street Corp now owns 723,255 shares of the utilities provider’s stock worth $31,934,000 after acquiring an additional 19,047 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Avangrid by 2.5% during the 4th quarter. Wells Fargo & Company MN now owns 706,799 shares of the utilities provider’s stock worth $35,749,000 after acquiring an additional 17,415 shares during the last quarter. Finally, Electron Capital Partners LLC boosted its stake in Avangrid by 47.6% during the 4th quarter. Electron Capital Partners LLC now owns 681,513 shares of the utilities provider’s stock worth $34,471,000 after acquiring an additional 219,904 shares during the last quarter. 14.29% of the stock is currently owned by institutional investors.
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Avangrid, Inc is an energy and utility company. The Company operates through three segments: Networks, Renewables and Gas. The Networks segment includes all the energy transmission and distribution activities, and any other regulated activity originating in New York and Maine, and regulated electric distribution, electric transmission and gas distribution activities originating in Connecticut and Massachusetts.
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