Avangrid, Inc. (AGR) Plans $0.43 Quarterly Dividend

Avangrid, Inc. (NYSE:AGR) declared a quarterly dividend on Monday, December 4th, Wall Street Journal reports. Shareholders of record on Monday, December 11th will be paid a dividend of 0.432 per share by the utilities provider on Tuesday, January 2nd. This represents a $1.73 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend is Friday, December 8th.

Avangrid has a dividend payout ratio of 77.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect Avangrid to earn $2.40 per share next year, which means the company should continue to be able to cover its $1.73 annual dividend with an expected future payout ratio of 72.1%.

Shares of Avangrid (NYSE AGR) traded down $0.35 during mid-day trading on Monday, reaching $52.72. The company’s stock had a trading volume of 254,300 shares, compared to its average volume of 450,317. Avangrid has a one year low of $35.42 and a one year high of $53.46. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.56 and a current ratio of 0.69. The firm has a market capitalization of $16,290.76, a P/E ratio of 23.33, a PEG ratio of 2.86 and a beta of 0.55.

Avangrid (NYSE:AGR) last announced its quarterly earnings results on Tuesday, October 24th. The utilities provider reported $0.40 EPS for the quarter, beating the consensus estimate of $0.37 by $0.03. Avangrid had a return on equity of 4.60% and a net margin of 11.23%. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter last year, the company posted $0.35 earnings per share. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. sell-side analysts expect that Avangrid will post 2.22 earnings per share for the current fiscal year.

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company cut Avangrid from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 1st. Zacks Investment Research raised Avangrid from a “sell” rating to a “hold” rating in a research report on Thursday, October 26th. Bank of America assumed coverage on Avangrid in a research report on Tuesday, October 24th. They issued a “buy” rating and a $52.00 price objective for the company. Finally, J P Morgan Chase & Co increased their price objective on Avangrid from $43.00 to $47.00 and gave the company an “underweight” rating in a research report on Thursday, October 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $47.50.

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Avangrid Company Profile

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.

Dividend History for Avangrid (NYSE:AGR)

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