Avangrid (AGR) Declares $0.44 Dividend
Avangrid said on February 15, 2024 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 February 29, 2024 to qualify for the dividend. Shareholders of record as of March 1, 2024 will receive the payment on April 1, 2024.
At the current share price of $31.41 / share, the stock's dividend yield is 5.60%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.94%, the lowest has been 3.11%, and the highest has been 6.21%. The standard deviation of yields is 0.67 (n=233).
The current dividend yield is 2.50 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 1.27. 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.
- Read the Ultimate Guide to Dividend Harvesting.
The company has not increased its dividend in the last three years.
What is the Fund Sentiment?
There are 555 funds or institutions reporting positions in Avangrid. This is a decrease of 2 owner(s) or 0.36% in the last quarter. Average portfolio weight of all funds dedicated to AGR is 0.17%, an increase of 5.39%. Total shares owned by institutions decreased in the last three months by 0.25% to 54,115K shares. 
The put/call ratio of AGR is 0.96, indicating a bullish outlook.
Analyst Price Forecast Suggests 14.88% Upside
As of January 20, 2024, the average one-year price target for Avangrid is 36.08. The forecasts range from a low of 30.30 to a high of $54.60. The average price target represents an increase of 14.88% from its latest reported closing price of 31.41.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Avangrid is 8,031MM, a decrease of 1.88%. The projected annual non-GAAP EPS is 2.47.
What are Other Shareholders Doing?
ATLAS Infrastructure Partners holds 6,837K shares representing 1.77% ownership of the company. In it's prior filing, the firm reported owning 6,269K shares, representing an increase of 8.32%. The firm decreased its portfolio allocation in AGR by 9.21% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,456K shares representing 0.63% ownership of the company. In it's prior filing, the firm reported owning 2,450K shares, representing an increase of 0.24%. The firm decreased its portfolio allocation in AGR by 16.70% over the last quarter.
Clean Energy Transition LLP holds 2,333K shares representing 0.60% ownership of the company.
FVD - First Trust Value Line Dividend Index Fund holds 2,019K shares representing 0.52% ownership of the company. In it's prior filing, the firm reported owning 1,843K shares, representing an increase of 8.72%. The firm decreased its portfolio allocation in AGR by 1.86% over the last quarter.
Mackenzie Financial holds 1,917K shares representing 0.50% ownership of the company. In it's prior filing, the firm reported owning 1,591K shares, representing an increase of 17.01%. The firm increased its portfolio allocation in AGR by 21.93% 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.
Additional reading:
- Avangrid Statement on PNM Resources, Inc. Merger
- AVANGRID REPORTS THIRD QUARTER 2023 FINANCIAL RESULTS
- AVANGRID REPORTS SECOND QUARTER 2023 FINANCIAL RESULTS
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