Avangrid, Inc. (NYSE:AGR) declared a quarterly dividend on Monday, December 4th, Wall Street Journal reports. Shareholders of record on Monday, December 11th will be given a dividend of 0.432 per share by the utilities provider on Tuesday, January 2nd. This represents a $1.73 annualized dividend and a yield of 3.34%. The ex-dividend date of this dividend is Friday, December 8th.
Avangrid has a payout ratio of 77.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect Avangrid to earn $2.39 per share next year, which means the company should continue to be able to cover its $1.73 annual dividend with an expected future payout ratio of 72.4%.
Avangrid (AGR) opened at $51.76 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.56 and a current ratio of 0.69. Avangrid has a 12 month low of $35.89 and a 12 month high of $53.46. The firm has a market capitalization of $15,910.68, a PE ratio of 22.78, a price-to-earnings-growth ratio of 2.82 and a beta of 0.55.
Avangrid (NYSE:AGR) last released its earnings results on Tuesday, October 24th. The utilities provider reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.03. Avangrid had a return on equity of 4.60% and a net margin of 11.23%. The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the previous year, the business posted $0.35 EPS. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. equities research analysts forecast that Avangrid will post 2.21 earnings per share for the current year.
Several equities analysts have weighed in on the company. Zacks Investment Research raised Avangrid from a “sell” rating to a “hold” rating in a research note on Thursday, October 26th. Wells Fargo & Company lowered Avangrid from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 1st. Bank of America began coverage on Avangrid in a report on Tuesday, October 24th. They set a “buy” rating and a $52.00 price target for the company. Finally, J P Morgan Chase & Co lifted their price target on Avangrid from $43.00 to $47.00 and gave the company an “underweight” rating in a report on Thursday, October 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $47.50.
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Avangrid Company Profile
Avangrid, Inc is an energy and utility company. The Company operates through three segments: Networks, Renewables and Gas. The Networks segment includes all the energy transmission and distribution activities, and any other regulated activity originating in New York and Maine, and regulated electric distribution, electric transmission and gas distribution activities originating in Connecticut and Massachusetts.
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