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

Avangrid, Inc. (NYSE:AGR) declared a quarterly dividend on Friday, September 27th,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 annualized dividend and a yield of 4.88%. The ex-dividend date is Monday, December 2nd.

Avangrid has a payout ratio of 71.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Avangrid to earn $2.43 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 72.4%.

Avangrid Stock Down 0.1 %

Shares of NYSE:AGR opened at $36.10 on Friday. The firm has a market cap of $13.97 billion, a price-to-earnings ratio of 12.41, a PEG ratio of 2.57 and a beta of 0.55. Avangrid has a 12-month low of $29.71 and a 12-month high of $37.70. The company has a current ratio of 0.51, a quick ratio of 0.44 and a debt-to-equity ratio of 0.52. The stock’s 50-day moving average price is $35.82 and its two-hundred day moving average price is $35.74.

Avangrid (NYSE:AGR) last issued its earnings results on Tuesday, October 22nd. The utilities provider reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.22. The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.04 billion. Avangrid had a return on equity of 5.37% and a net margin of 12.89%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period last year, the company posted $0.27 EPS. On average, research analysts forecast that Avangrid will post 2.34 EPS for the current year.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on shares of Avangrid in a research report on Saturday. They issued a “hold” rating for the company.

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.