Short Interest in Avangrid, Inc. (NYSE:AGR) Drops By 7.3%

Avangrid, Inc. (NYSE:AGR) was the target of a significant drop in short interest during the month of October. As of October 15th, there was short interest totalling 1,390,000 shares, a drop of 7.3% from the September 30th total of 1,500,000 shares. Based on an average trading volume of 613,700 shares, the short-interest ratio is currently 2.3 days. Approximately 2.0% of the company’s shares are short sold.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Headlands Technologies LLC acquired a new position in Avangrid in the first quarter valued at approximately $26,000. Blue Trust Inc. raised its stake 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 acquiring an additional 573 shares in the last quarter. Eastern Bank acquired a new position in Avangrid in the third quarter valued at $30,000. Bell Investment Advisors Inc grew its holdings in shares of Avangrid by 163.9% during the first quarter. Bell Investment Advisors Inc now owns 863 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 536 shares during the last quarter. Finally, Central Pacific Bank Trust Division acquired a new stake in shares of Avangrid during the first quarter worth about $36,000. 13.12% of the stock is owned by institutional investors and hedge funds.

Avangrid Stock Up 0.1 %

Shares of NYSE AGR traded up $0.02 during mid-day trading on Thursday, hitting $35.72. The company had a trading volume of 428,669 shares, compared to its average volume of 788,190. Avangrid has a 1-year low of $29.14 and a 1-year high of $37.70. The company has a market capitalization of $13.82 billion, a PE ratio of 15.48, a price-to-earnings-growth ratio of 2.66 and a beta of 0.55. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.52 and a quick ratio of 0.44. The business’s 50-day simple moving average is $35.76 and its 200 day simple moving average is $35.85.

Avangrid (NYSE:AGR) last announced its quarterly earnings data on Tuesday, October 22nd. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.22. Avangrid had a return on equity of 4.87% and a net margin of 11.35%. The business had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.04 billion. During the same quarter last year, the business posted $0.27 EPS. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, analysts predict that Avangrid will post 2.24 earnings per share for the current year.

Avangrid Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, December 2nd will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date is Monday, December 2nd. Avangrid’s dividend payout ratio is presently 76.19%.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of Avangrid in a report on Tuesday. They issued a “hold” rating for the company.

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.