Avangrid (AGR) Declares $0.44 Dividend

Avangrid said on April 12, 2023 that its board of directors declared a regular quarterly dividend of $0.44 per share ($1.76 annualized). Previously, the company paid $0.44 per share.

Shares must be purchased before the ex-div date of May 31, 2023 to qualify for the dividend. Shareholders of record as of June 1, 2023 will receive the payment on July 3, 2023.

At the current share price of $40.49 / share, the stock's dividend yield is 4.35%. Looking back five years and taking a sample every week, the average dividend yield has been 3.67%, the lowest has been 3.11%, and the highest has been 4.87%. The standard deviation of yields is 0.32 (n=236).

The current dividend yield is 2.11 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.77. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company has not increased its dividend in the last three years.

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What is the Fund Sentiment?

There are 617 funds or institutions reporting positions in Avangrid. This is an increase of 29 owner(s) or 4.93% in the last quarter. Average portfolio weight of all funds dedicated to AGR is 0.16%, a decrease of 19.10%. Total shares owned by institutions increased in the last three months by 1.48% to 52,816K shares. The put/call ratio of AGR is 0.38, indicating a bullish outlook.

Analyst Price Forecast Suggests 3.64% Upside

As of April 6, 2023, the average one-year price target for Avangrid is $41.97. The forecasts range from a low of $34.34 to a high of $54.60. The average price target represents an increase of 3.64% from its latest reported closing price of $40.49.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Avangrid is $7,710MM, a decrease of 2.69%. The projected annual non-GAAP EPS is $2.32.

What are Other Shareholders Doing?

SCHK - Schwab 1000 Index ETF holds 4K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 4K shares, representing an increase of 5.21%. The firm decreased its portfolio allocation in AGR by 16.69% over the last quarter.

SSMHX - State Street Small holds 20K shares representing 0.01% ownership of the company. In it's prior filing, the firm reported owning 18K shares, representing an increase of 8.58%. The firm increased its portfolio allocation in AGR by 3.89% over the last quarter.

FVD - First Trust Value Line Dividend Index Fund holds 1,657K shares representing 0.43% ownership of the company. In it's prior filing, the firm reported owning 1,350K shares, representing an increase of 18.57%. The firm increased its portfolio allocation in AGR by 12.05% over the last quarter.

USLB - Invesco Russell 1000 Low Beta Equal Weight ETF holds 0K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 1.69%. The firm decreased its portfolio allocation in AGR by 17.30% over the last quarter.

Parallel Advisors holds 2K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 2K shares, representing a decrease of 12.37%. The firm decreased its portfolio allocation in AGR by 99.91% over the last quarter.

Avangrid Background Information
(This description is provided by the company.)

AVANGRID, Inc. is a leading, sustainable energy company with approximately $36 billion in assets and operations in 24 U.S. states. With headquarters in Orange, Connecticut, AVANGRID has two primary lines of business: Avangrid Networks and Avangrid Renewables. Avangrid Networks owns eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Avangrid Renewables owns and operates a portfolio of renewable energy generation facilities across the United States. AVANGRID employs approximately 6,600 people. AVANGRID supports the U.N.'s Sustainable Development Goals and was named among the World's Most Ethical Companies in 2019 and 2020 by the Ethisphere Institute.

This story originally appeared on Fintel.