Avangrid, Inc. (NYSE:AGR – Get Rating) declared a quarterly dividend on Wednesday, October 19th, Wall Street Journal reports. Shareholders of record on Thursday, December 1st will be paid a dividend of 0.44 per share by the utilities provider on Tuesday, January 3rd. This represents a $1.76 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date is Wednesday, November 30th.
Avangrid has increased its dividend by an average of 0.3% per year over the last three years. Avangrid has a dividend payout ratio of 77.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings fall. Analysts expect Avangrid to earn $2.27 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 77.5%.
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Avangrid Stock Performance
Shares of Avangrid stock opened at $42.58 on Monday. The company has a market capitalization of $16.46 billion, a PE ratio of 18.35, a P/E/G ratio of 3.14 and a beta of 0.39. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.61 and a current ratio of 0.74. The company has a 50-day simple moving average of $41.61 and a two-hundred day simple moving average of $45.46. Avangrid has a one year low of $37.64 and a one year high of $52.51.
Avangrid (NYSE:AGR – Get Rating) last announced its earnings results on Tuesday, October 25th. The utilities provider reported $0.31 EPS for the quarter, missing analysts' consensus estimates of $0.32 by ($0.01). Avangrid had a return on equity of 4.56% and a net
margin of 11.66%. The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the prior year, the firm posted $0.34 earnings per share. Research analysts expect that Avangrid will post 2.3 EPS for the current fiscal year.
Institutional Investors Weigh In On Avangrid
Several hedge funds have recently bought and sold shares of AGR. Toroso Investments LLC acquired a new position in shares of Avangrid during the 3rd quarter worth approximately $238,000. Captrust Financial Advisors raised its stake in shares of Avangrid by 125.9% during the 3rd quarter. Captrust Financial Advisors now owns 7,758 shares of the utilities provider's stock worth $324,000 after buying an additional 4,323 shares during the period. Jane Street Group LLC acquired a new position in shares of Avangrid during the 3rd quarter worth approximately $1,249,000. BNP Paribas Arbitrage SNC raised its stake in shares of Avangrid by 59.9% during the 3rd quarter. BNP Paribas Arbitrage SNC now owns 151,298 shares of the utilities provider's stock worth $6,309,000 after buying an additional 56,666 shares during the period. Finally, Alliancebernstein L.P. raised its stake in shares of Avangrid by 40.4% during the 3rd quarter. Alliancebernstein L.P. now owns 98,543 shares of the utilities provider's stock worth $4,109,000 after buying an additional 28,342 shares during the period. Hedge funds and other institutional investors own 12.49% of the company's stock.
Analyst Ratings Changes
AGR has been the topic of a number of research analyst reports. Mizuho boosted their price target on Avangrid from $39.00 to $41.00 and gave the stock a "neutral" rating in a research note on Monday, October 31st. Wells Fargo & Company dropped their target price on Avangrid from $52.00 to $45.00 and set an "equal weight" rating on the stock in a research report on Wednesday, October 19th. TheStreet upgraded Avangrid from a "c+" rating to a "b" rating in a research report on Tuesday, August 9th. StockNews.com lowered Avangrid from a "buy" rating to a "hold" rating in a research report on Wednesday, October 26th. Finally, KeyCorp dropped their target price on Avangrid from $41.00 to $35.00 and set an "underweight" rating on the stock in a research report on Thursday, October 20th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $45.20.
Avangrid Company Profile
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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.
Further Reading
- Get a free copy of the StockNews.com research report on Avangrid (AGR)
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