Avangrid, Inc. (NYSE:AGR) Short Interest Update

Avangrid, Inc. (NYSE:AGR) was the recipient of a large drop in short interest in the month of 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 trading volume of 812,100 shares, the short-interest ratio is presently 1.9 days. Approximately 2.2% of the company’s shares are sold short.

Avangrid Stock Up 0.2 %

Shares of NYSE AGR traded up $0.06 during midday trading on Wednesday, hitting $35.35. 253,287 shares of the stock traded hands, compared to its average volume of 870,506. 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 one year low of $27.46 and a one year high of $39.13. The business has a 50 day moving average price of $36.02 and a two-hundred day moving average price of $34.26. The company has a market cap of $13.68 billion, a PE ratio of 15.30, a P/E/G ratio of 2.67 and a beta of 0.55.

Avangrid (NYSE:AGR) last announced its quarterly earnings results on Wednesday, April 24th. The utilities provider reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. Avangrid had a net margin of 10.80% and a return on equity of 4.35%. The business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.54 billion. During the same quarter in the previous year, the business posted $0.64 EPS. Avangrid’s quarterly revenue was down 2.0% on a year-over-year basis. On average, equities analysts predict that Avangrid will post 2.22 EPS for the current year.

Avangrid Dividend Announcement

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

Institutional Trading of Avangrid

Several institutional investors and hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. boosted its position in Avangrid by 26.3% in the third quarter. PNC Financial Services Group Inc. now owns 8,858 shares of the utilities provider’s stock worth $267,000 after purchasing an additional 1,843 shares during the last quarter. Schonfeld Strategic Advisors LLC raised its position in Avangrid by 110.5% in the third quarter. Schonfeld Strategic Advisors LLC now owns 170,700 shares of the utilities provider’s stock worth $5,150,000 after acquiring an additional 89,600 shares during the period. Advisors Asset Management Inc. boosted its stake in Avangrid by 71.4% in the third quarter. Advisors Asset Management Inc. now owns 152,462 shares of the utilities provider’s stock valued at $4,600,000 after acquiring an additional 63,529 shares during the last quarter. AXQ Capital LP bought a new position in shares of Avangrid during the 3rd quarter valued at approximately $929,000. Finally, Evergreen Capital Management LLC purchased a new stake in shares of Avangrid during the 3rd quarter worth approximately $290,000. 13.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on AGR. Janney Montgomery Scott reiterated a “sell” rating and issued a $35.00 target price on shares of Avangrid in a report on Friday, March 8th. StockNews.com assumed coverage on shares of Avangrid in a research report on Monday. They set a “hold” rating on the stock. 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.com, Avangrid presently has a consensus rating of “Hold” and a consensus price target 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.