Avangrid, Inc. (AGR) To Go Ex-Dividend on August 30th

Avangrid, Inc. (NYSE:AGR) announced a quarterly dividend on Tuesday, July 16th, Zacks reports. Investors of record on Monday, September 2nd will be paid a dividend of 0.44 per share by the utilities provider on Tuesday, October 1st. This represents a $1.76 annualized dividend and a yield of 4.97%. The ex-dividend date of this dividend is Friday, August 30th.

Avangrid has a payout ratio of 72.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Avangrid to earn $2.41 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 73.0%.

Avangrid Stock Performance

Shares of NYSE AGR opened at $35.44 on Thursday. The firm has a 50 day moving average of $35.75 and a 200 day moving average of $34.47. The company has a current ratio of 0.58, a quick ratio of 0.50 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $13.71 billion, a price-to-earnings ratio of 15.34, a price-to-earnings-growth ratio of 2.66 and a beta of 0.55. Avangrid has a 12-month low of $27.46 and a 12-month high of $39.13.

Avangrid (NYSE:AGR) last issued its quarterly earnings results on Wednesday, April 24th. The utilities provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.18. Avangrid had a net margin of 10.80% and a return on equity of 4.35%. The business had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter in the previous year, the firm earned $0.64 earnings per share. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, research analysts anticipate that Avangrid will post 2.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on shares of Avangrid in a report on Wednesday. They issued a “hold” rating on the stock. One analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $34.67.

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.