Avangrid, Inc. (NYSE:AGR) Sees Significant Decline in Short Interest

Avangrid, Inc. (NYSE:AGR) saw a significant drop in short interest in June. As of June 15th, there was short interest totalling 1,580,000 shares, a drop of 9.7% from the May 31st total of 1,750,000 shares. Based on an average daily volume of 812,100 shares, the short-interest ratio is currently 1.9 days. Currently, 2.2% of the company’s stock are sold short.

Avangrid Price Performance

NYSE AGR traded up $0.06 on Wednesday, hitting $35.35. The stock had a trading volume of 253,788 shares, compared to its average volume of 870,510. The firm has a 50-day moving average of $36.02 and a 200-day moving average of $34.26. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.50 and a current ratio of 0.58. Avangrid has a 52-week low of $27.46 and a 52-week high of $39.13. The company has a market capitalization of $13.68 billion, a price-to-earnings ratio of 15.30, a price-to-earnings-growth ratio of 2.67 and a beta of 0.55.

Avangrid (NYSE:AGR) last released its quarterly earnings results on Wednesday, April 24th. The utilities provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.18. Avangrid had a return on equity of 4.35% and a net margin of 10.80%. The firm had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter last year, the firm posted $0.64 EPS. The company’s revenue was down 2.0% compared to the same quarter last year. Equities analysts expect that Avangrid will post 2.22 EPS for the current year.

Avangrid Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were given a $0.44 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $1.76 annualized dividend and a yield of 4.98%. Avangrid’s dividend payout ratio (DPR) is presently 76.19%.

Institutional Investors Weigh In On Avangrid

Large investors have recently added to or reduced their stakes in the company. Headlands Technologies LLC purchased a new stake in shares of Avangrid in the 1st quarter valued at $26,000. Bell Investment Advisors Inc boosted its position in Avangrid by 163.9% during the first quarter. Bell Investment Advisors Inc now owns 863 shares of the utilities provider’s stock valued at $31,000 after buying an additional 536 shares during the period. Central Pacific Bank Trust Division bought a new position in shares of Avangrid during the first quarter valued at about $36,000. Toronto Dominion Bank purchased a new position in shares of Avangrid in the first quarter worth about $41,000. Finally, BKM Wealth Management LLC purchased a new stake in Avangrid during the 4th quarter valued at about $41,000. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Janney Montgomery Scott reissued a “sell” rating and issued a $35.00 price objective on shares of Avangrid in a research report on Friday, March 8th. StockNews.com initiated coverage on shares of Avangrid in a report on Monday. They set a “hold” rating for the company. One analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $34.67.

Avangrid Company Profile

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.