Short Interest in Avangrid, Inc. (NYSE:AGR) Expands By 8.3%

Avangrid, Inc. (NYSE:AGR) saw a significant increase in short interest during the month of August. As of August 15th, there was short interest totalling 1,170,000 shares, an increase of 8.3% from the July 31st total of 1,080,000 shares. Based on an average daily volume of 648,200 shares, the short-interest ratio is presently 1.8 days. Approximately 1.7% of the shares of the company are short sold.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AGR. Quent Capital LLC boosted its stake in shares of Avangrid by 31.0% in the first quarter. Quent Capital LLC now owns 1,486 shares of the utilities provider’s stock valued at $54,000 after buying an additional 352 shares during the period. Signaturefd LLC lifted its position in shares of Avangrid by 2.6% during the 2nd quarter. Signaturefd LLC now owns 16,011 shares of the utilities provider’s stock valued at $569,000 after acquiring an additional 399 shares during the period. Royal London Asset Management Ltd. grew its holdings in shares of Avangrid by 1.7% during the 2nd quarter. Royal London Asset Management Ltd. now owns 28,005 shares of the utilities provider’s stock worth $995,000 after purchasing an additional 471 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Avangrid by 2.8% in the 2nd quarter. Van ECK Associates Corp now owns 18,305 shares of the utilities provider’s stock valued at $650,000 after buying an additional 499 shares in the last quarter. Finally, Bell Investment Advisors Inc lifted its holdings in shares of Avangrid by 163.9% during the 1st quarter. Bell Investment Advisors Inc now owns 863 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 536 shares during the period. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Avangrid Trading Down 0.8 %

AGR opened at $35.69 on Monday. Avangrid has a 1-year low of $27.46 and a 1-year high of $37.70. The firm has a 50-day moving average price of $35.63 and a two-hundred day moving average price of $35.40. The stock has a market capitalization of $13.81 billion, a PE ratio of 15.45, a PEG ratio of 2.66 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 (NYSE:AGR) last announced its quarterly earnings data on Tuesday, July 23rd. The utilities provider reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.22. The firm had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Avangrid had a return on equity of 4.87% and a net margin of 11.35%. The company’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.21 EPS. As a group, equities analysts anticipate that Avangrid will post 2.24 earnings per share for the current fiscal year.

Avangrid Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders 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 dividend on an annualized basis and a yield of 4.93%. Avangrid’s dividend payout ratio is 76.19%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on Avangrid in a research note on Monday, August 26th. They set 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.