Avangrid, Inc. (NYSE:AGR) Short Interest Down 34.2% in May

Avangrid, Inc. (NYSE:AGRGet Free Report) saw a large drop in short interest in the month of May. As of May 31st, there was short interest totalling 1,750,000 shares, a drop of 34.2% from the May 15th total of 2,660,000 shares. Based on an average daily volume of 940,000 shares, the days-to-cover ratio is presently 1.9 days. Currently, 2.5% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on AGR shares. Janney Montgomery Scott reissued a “sell” rating and set a $35.00 price target on shares of Avangrid in a report on Friday, March 8th. StockNews.com initiated coverage on Avangrid in a research report on Saturday. They issued a “hold” rating for the company. Finally, Wells Fargo & Company lifted their price target on Avangrid from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat.com, Avangrid presently has an average rating of “Hold” and a consensus price target of $34.75.

Read Our Latest Report on AGR

Avangrid Trading Up 0.2 %

Shares of Avangrid stock traded up $0.08 on Friday, hitting $35.43. 414,439 shares of the company traded hands, compared to its average volume of 1,059,939. The company has a market cap of $13.71 billion, a PE ratio of 15.34, a PEG ratio of 2.66 and a beta of 0.55. Avangrid has a 52 week low of $27.46 and a 52 week high of $39.14. The company has a current ratio of 0.58, a quick ratio of 0.50 and a debt-to-equity ratio of 0.47. The stock’s 50 day moving average price is $36.22 and its 200-day moving average price is $34.00.

Avangrid (NYSE:AGRGet Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The utilities provider reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.54 billion. Avangrid had a net margin of 10.80% and a return on equity of 4.35%. Avangrid’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.64 earnings per share. Equities research analysts predict that Avangrid will post 2.22 EPS for the current year.

Avangrid Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 4.97%. The ex-dividend date of this dividend is Monday, June 3rd. Avangrid’s dividend payout ratio (DPR) is 76.19%.

Hedge Funds Weigh In On Avangrid

A number of large investors have recently bought and sold shares of AGR. ING Groep NV acquired a new position in shares of Avangrid during the fourth quarter worth $1,027,000. Handelsbanken Fonder AB purchased a new stake in shares of Avangrid during the fourth quarter valued at $4,195,000. Robeco Institutional Asset Management B.V. grew its holdings in shares of Avangrid by 2,285.5% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 96,754 shares of the utilities provider’s stock valued at $31,000 after buying an additional 92,698 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Avangrid by 179.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 157,984 shares of the utilities provider’s stock valued at $5,120,000 after buying an additional 101,543 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in Avangrid in the fourth quarter valued at $1,583,000. Institutional investors own 13.12% of the company’s stock.

About Avangrid

(Get Free Report)

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.

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