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

Avangrid, Inc. (NYSE:AGR) declared a quarterly dividend on Friday, September 27th,Wall Street Journal reports. Investors 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 4.87%. The ex-dividend date is Monday, December 2nd.

Avangrid has a dividend payout ratio of 71.5% indicating that its dividend is sufficiently covered by earnings. 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 Trading Down 0.1 %

NYSE:AGR opened at $36.12 on Friday. The company has a market cap of $13.98 billion, a PE ratio of 12.41, a price-to-earnings-growth ratio of 2.57 and a beta of 0.55. 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 company has a 50 day simple moving average of $35.82 and a two-hundred day simple moving average of $35.75. Avangrid has a 12 month low of $29.71 and a 12 month high of $37.70.

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

Analyst Upgrades and Downgrades

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

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.