Avangrid Inc Declares Quarterly Dividend of $0.43 (AGR)
Avangrid Inc (NYSE:AGR) announced a quarterly dividend on Friday, February 16th, Wall Street Journal reports. Investors of record on Friday, March 9th will be given a dividend of 0.432 per share by the utilities provider on Monday, April 2nd. This represents a $1.73 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend is Thursday, March 8th.
Avangrid has a dividend payout ratio of 78.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Avangrid to earn $2.54 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 68.1%.
Shares of Avangrid (NYSE:AGR) opened at $48.06 on Friday. Avangrid has a 52 week low of $41.61 and a 52 week high of $53.46. The company has a quick ratio of 0.56, a current ratio of 0.69 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $14,934.23, a P/E ratio of 39.07, a P/E/G ratio of 2.21 and a beta of 0.32.
AGR has been the subject of several analyst reports. Gabelli reiterated a “buy” rating on shares of Avangrid in a report on Wednesday, February 21st. Goldman Sachs Group initiated coverage on Avangrid in a report on Wednesday, January 10th. They issued a “buy” rating for the company. Zacks Investment Research downgraded Avangrid from a “hold” rating to a “sell” rating in a report on Tuesday, December 26th. TheStreet upgraded Avangrid from a “c” rating to a “b-” rating in a report on Monday, December 18th. Finally, Bank of America reiterated a “buy” rating and issued a $53.00 price target (up from $52.00) on shares of Avangrid in a report on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $50.50.
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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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