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

Avangrid, Inc. (NYSE:AGR) announced 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 dividend on an annualized basis and a yield of 4.87%. The ex-dividend date of this dividend is Monday, December 2nd.

Avangrid has a dividend payout ratio of 71.5% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of NYSE AGR opened at $36.12 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.44 and a current ratio of 0.51. Avangrid has a fifty-two week low of $29.71 and a fifty-two week high of $37.70. The stock 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 stock has a fifty day moving average of $35.82 and a 200-day moving average of $35.75.

Avangrid (NYSE:AGR) last announced its quarterly earnings results on Tuesday, October 22nd. The utilities provider reported $0.55 earnings per share for the quarter, beating 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 firm had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.04 billion. During the same period in the prior year, the business posted $0.27 earnings per share. The company’s revenue was up 5.5% on a year-over-year basis. Equities research analysts anticipate that Avangrid will post 2.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on shares of Avangrid in a research report on Saturday. They set 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.