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

Avangrid, Inc. (NYSE:AGR) declared a quarterly dividend on Monday, September 30th, Wall Street Journal reports. Shareholders of record on Monday, December 2nd will be paid a dividend of 0.44 per share by the utilities provider on Thursday, January 2nd. This represents a $1.76 dividend on an annualized basis and a yield of 4.92%. The ex-dividend date is Monday, December 2nd.

Avangrid has a dividend payout ratio of 72.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Avangrid to earn $2.40 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 73.3%.

Avangrid Stock Up 0.1 %

Shares of AGR traded up $0.03 during mid-day trading on Monday, hitting $35.79. 832,378 shares of the company traded hands, compared to its average volume of 799,594. Avangrid has a 1-year low of $27.46 and a 1-year high of $37.70. The company has a quick ratio of 0.44, a current ratio of 0.52 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $13.85 billion, a PE ratio of 15.48, a price-to-earnings-growth ratio of 2.67 and a beta of 0.55. The business has a 50 day moving average of $35.76 and a 200 day moving average of $35.87.

Avangrid (NYSE:AGR) last posted its quarterly earnings data on Tuesday, July 23rd. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.22. Avangrid had a net margin of 11.35% and a return on equity of 4.87%. The firm had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the prior year, the company posted $0.21 earnings per share. The company’s revenue for the quarter was up 21.2% compared to the same quarter last year. Equities research analysts anticipate that Avangrid will post 2.24 EPS for the current year.

Analysts Set New Price Targets

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

Avangrid Company Profile

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.