Short Interest in Avangrid, Inc. (NYSE:AGR) Declines By 15.0%

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

Institutional Trading of Avangrid

Institutional investors and hedge funds have recently modified their holdings of the business. Headlands Technologies LLC bought a new position in Avangrid in the first quarter valued at about $26,000. Bell Investment Advisors Inc boosted its stake in shares of Avangrid by 163.9% in the 1st quarter. Bell Investment Advisors Inc now owns 863 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 536 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of Avangrid during the 1st quarter valued at approximately $36,000. Toronto Dominion Bank acquired a new position in Avangrid during the 1st quarter worth approximately $41,000. Finally, Quent Capital LLC lifted its stake in Avangrid by 31.0% in the 1st quarter. Quent Capital LLC now owns 1,486 shares of the utilities provider’s stock valued at $54,000 after purchasing an additional 352 shares during the last quarter. 13.12% of the stock is currently owned by institutional investors.

Avangrid Price Performance

Avangrid stock traded up $0.02 during trading hours on Friday, reaching $35.85. 348,294 shares of the stock were exchanged, compared to its average volume of 834,730. The stock has a 50 day moving average of $35.50 and a two-hundred day moving average of $35.06. The company has a market cap of $13.87 billion, a P/E ratio of 15.52, a price-to-earnings-growth ratio of 2.69 and a beta of 0.55. The company has a current ratio of 0.52, a quick ratio of 0.44 and a debt-to-equity ratio of 0.49. Avangrid has a twelve month low of $27.46 and a twelve month high of $37.70.

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

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on Avangrid in a research note on Sunday. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, Avangrid has an average 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.