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

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

Analyst Ratings Changes

Separately, StockNews.com began coverage on shares of Avangrid in a research note on Monday. They set a “hold” rating on the stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AGR. Brooklyn Investment Group purchased a new stake in Avangrid in the 3rd quarter valued at about $25,000. Blue Trust Inc. boosted its holdings in shares of Avangrid by 244.9% in the third quarter. Blue Trust Inc. now owns 807 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 573 shares during the period. Eastern Bank bought a new position in Avangrid in the third quarter worth approximately $30,000. Quarry LP purchased a new position in Avangrid during the 3rd quarter worth $47,000. Finally, Venturi Wealth Management LLC raised its position in Avangrid by 1,939.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,978 shares of the utilities provider’s stock valued at $107,000 after purchasing an additional 2,832 shares in the last quarter. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Avangrid Trading Down 0.1 %

Avangrid stock traded down $0.05 during midday trading on Tuesday, reaching $35.63. The stock had a trading volume of 592,784 shares, compared to its average volume of 762,086. The company has a quick ratio of 0.44, a current ratio of 0.51 and a debt-to-equity ratio of 0.52. The firm has a market cap of $13.79 billion, a price-to-earnings ratio of 12.26, a price-to-earnings-growth ratio of 2.54 and a beta of 0.56. Avangrid has a 52-week low of $29.71 and a 52-week high of $37.70. The company has a fifty day moving average of $35.78 and a 200 day moving average of $35.68.

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

Avangrid Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.94%. The ex-dividend date of this dividend is Monday, December 2nd. Avangrid’s dividend payout ratio is currently 60.48%.

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.