Avangrid, Inc. (AGR) To Go Ex-Dividend on December 2nd

Avangrid, Inc. (NYSE:AGR) announced a quarterly dividend on Friday, September 27th,Wall Street Journal reports. Investors of record on Monday, December 2nd will be given a dividend of 0.44 per share by the utilities provider on Thursday, January 2nd. This represents a $1.76 annualized dividend 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% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

AGR stock opened at $36.12 on Friday. The company has a quick ratio of 0.44, a current ratio of 0.51 and a debt-to-equity ratio of 0.52. The firm has a market cap of $13.98 billion, a PE ratio of 12.41, a P/E/G ratio of 2.57 and a beta of 0.55. The business has a 50 day moving average of $35.82 and a 200-day 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 announced its earnings results on Tuesday, October 22nd. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.22. The firm had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.04 billion. Avangrid had a return on equity of 5.37% and a net margin of 12.89%. The business’s revenue was up 5.5% compared to the same quarter last year. During the same period last year, the firm posted $0.27 EPS. As a group, sell-side analysts expect that Avangrid will post 2.34 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of Avangrid in a research note on Saturday. They issued a “hold” rating on the stock.

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.