Avangrid, Inc. (AGR) to Issue $0.43 Quarterly Dividend

Avangrid, Inc. (NYSE:AGR) declared a quarterly dividend on Monday, December 4th, Wall Street Journal reports. Stockholders 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 dividend yield of 3.30%. The ex-dividend date is Friday, December 8th.

Avangrid has a payout ratio of 77.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities 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%.

Avangrid (AGR) traded down $0.43 on Tuesday, reaching $52.29. 343,600 shares of the company were exchanged, compared to its average volume of 449,859. The firm has a market cap of $16,160.00 and a P/E ratio of 23.33. Avangrid has a 12-month low of $35.56 and a 12-month 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.

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

A number of analysts recently issued reports on AGR shares. J P Morgan Chase & Co increased their target price on shares of Avangrid from $43.00 to $47.00 and gave the stock an “underweight” rating in a research report on Thursday, October 12th. Zacks Investment Research downgraded shares of Avangrid from a “hold” rating to a “sell” rating in a research report on Friday, October 13th. Bank of America initiated coverage on shares of Avangrid in a research report on Tuesday, October 24th. They issued a “buy” rating and a $52.00 price objective for the company. Finally, Wells Fargo & Company downgraded shares of Avangrid from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $47.50.

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About Avangrid

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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