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

Avangrid, Inc. (NYSE:AGR) was the target of a large decrease in short interest in July. As of July 31st, there was short interest totalling 1,080,000 shares, a decrease of 15.0% from the July 15th total of 1,270,000 shares. Approximately 1.5% of the shares of the company are short sold. Based on an average trading volume of 784,800 shares, the short-interest ratio is presently 1.4 days.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Headlands Technologies LLC acquired a new position in Avangrid during the 1st quarter valued at about $26,000. Robeco Institutional Asset Management B.V. raised its stake in shares of Avangrid by 2,285.5% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 96,754 shares of the utilities provider’s stock worth $31,000 after buying an additional 92,698 shares in the last quarter. Bell Investment Advisors Inc lifted its holdings in shares of Avangrid by 163.9% in 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 Avangrid during the first quarter valued at about $36,000. Finally, Toronto Dominion Bank acquired a new position in Avangrid during the first quarter worth about $41,000. 13.12% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Avangrid in a report on Sunday. They issued a “hold” rating for the company. One investment analyst has rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat.com, Avangrid has a consensus rating of “Hold” and a consensus price target of $34.67.

Avangrid Stock Performance

AGR stock traded up $0.02 during mid-day trading on Friday, reaching $35.85. The company had a trading volume of 348,294 shares, compared to its average volume of 834,730. The stock’s 50-day simple moving average is $35.50 and its two-hundred day simple moving average is $35.06. The stock has a market capitalization of $13.87 billion, a P/E ratio of 15.52, a P/E/G ratio of 2.69 and a beta of 0.55. The company has a quick ratio of 0.44, a current ratio of 0.52 and a debt-to-equity ratio of 0.49. Avangrid has a one year low of $27.46 and a one year high of $37.70.

Avangrid (NYSE:AGR) last posted its earnings results on Tuesday, July 23rd. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. Avangrid had a net margin of 11.35% and a return on equity of 4.87%. The firm had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same period in the previous year, the business posted $0.21 EPS. Avangrid’s revenue was up 21.2% on a year-over-year basis. Research analysts anticipate that Avangrid will post 2.23 EPS for the current year.

Avangrid Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd will be paid a $0.44 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.76 annualized dividend and a dividend yield of 4.91%. Avangrid’s payout ratio is 76.19%.

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.