Short Interest in Avangrid, Inc. (NYSE:AGR) Rises By 5.2%

Avangrid, Inc. (NYSE:AGR) saw a significant growth in short interest in the month of November. As of November 30th, there was short interest totalling 1,420,000 shares, a growth of 5.2% from the November 15th total of 1,350,000 shares. Based on an average trading volume of 637,300 shares, the days-to-cover ratio is presently 2.2 days. Currently, 2.0% of the shares of the company are sold short.

Avangrid Stock Up 0.1 %

AGR opened at $35.59 on Monday. The firm has a market cap of $13.77 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 2.54 and a beta of 0.56. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.44 and a current ratio of 0.51. The firm’s 50-day simple moving average is $35.78 and its 200-day simple moving average is $35.68. Avangrid has a twelve month low of $29.71 and a twelve month high of $37.70.

Avangrid (NYSE:AGR) last issued its quarterly earnings data on Tuesday, October 22nd. The utilities provider reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.22. Avangrid had a net margin of 12.89% and a return on equity of 5.37%. The firm had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.04 billion. During the same period in the prior year, the firm earned $0.27 earnings per share. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. Equities research analysts anticipate that Avangrid will post 2.34 EPS for the current fiscal year.

Avangrid Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a $0.44 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.76 annualized dividend and a yield of 4.95%. Avangrid’s payout ratio is 60.48%.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on Avangrid in a research note on Monday. They issued a “hold” rating for the company.

Institutional Trading of Avangrid

Several large investors have recently made changes to their positions in the business. Brooklyn Investment Group bought a new stake in shares of Avangrid during the third quarter valued at approximately $25,000. Blue Trust Inc. lifted its holdings in Avangrid by 244.9% during the 3rd quarter. Blue Trust Inc. now owns 807 shares of the utilities provider’s stock worth $29,000 after buying an additional 573 shares in the last quarter. Eastern Bank bought a new position in Avangrid in the 3rd quarter valued at $30,000. Quarry LP acquired a new stake in shares of Avangrid in the 3rd quarter valued at $47,000. Finally, Venturi Wealth Management LLC raised its position in shares of Avangrid by 1,939.7% during the third quarter. Venturi Wealth Management LLC now owns 2,978 shares of the utilities provider’s stock worth $107,000 after acquiring an additional 2,832 shares during the last quarter. Institutional investors own 13.12% of the company’s stock.

About Avangrid

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.