Avangrid, Inc. Plans Quarterly Dividend of $0.44 (NYSE:AGR)

Avangrid, Inc. (NYSE:AGR) announced a quarterly dividend on Tuesday, July 16th, Zacks reports. Investors of record on Monday, September 2nd will be paid a dividend of 0.44 per share by the utilities provider on Tuesday, October 1st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date of this dividend is Friday, August 30th.

Avangrid has a dividend payout ratio of 73.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Avangrid to earn $2.39 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 73.6%.

Avangrid Stock Down 0.1 %

Shares of AGR opened at $36.00 on Thursday. The firm has a market capitalization of $13.93 billion, a price-to-earnings ratio of 15.58, a PEG ratio of 2.69 and a beta of 0.55. Avangrid has a 52 week low of $27.46 and a 52 week high of $37.70. The business’s fifty day moving average price is $35.60 and its two-hundred day moving average price is $35.33. 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 (NYSE:AGR) last issued its quarterly earnings data on Tuesday, July 23rd. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.22. The company had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.72 billion. Avangrid had a net margin of 11.35% and a return on equity of 4.87%. The firm’s revenue was up 21.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.21 earnings per share. On average, analysts predict that Avangrid will post 2.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of Avangrid in a research note on Monday. They issued 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.