Free Trial

Avangrid, Inc. (NYSE:AGR) Sees Large Decline in Short Interest

Avangrid logo with Utilities background

Avangrid, Inc. (NYSE:AGR - Get Free Report) was the target of a large drop in short interest in 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. Approximately 2.5% of the company's stock are short sold. Based on an average daily volume of 940,000 shares, the short-interest ratio is currently 1.9 days.

Avangrid Stock Performance

Shares of Avangrid stock traded up $0.08 during trading hours on Friday, reaching $35.43. The company's stock had a trading volume of 414,439 shares, compared to its average volume of 1,059,939. The company's 50 day simple moving average is $36.22 and its 200 day simple moving average is $34.00. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.50 and a current ratio of 0.58. Avangrid has a one year low of $27.46 and a one year high of $39.14. The stock has a market cap of $13.71 billion, a P/E ratio of 15.34, a price-to-earnings-growth ratio of 2.66 and a beta of 0.55.

Avangrid (NYSE:AGR - Get Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The utilities provider reported $0.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.70 by $0.18. Avangrid had a net margin of 10.80% and a return on equity of 4.35%. The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same period last year, the firm posted $0.64 EPS. The company's revenue for the quarter was down 2.0% on a year-over-year basis. As a group, analysts expect that Avangrid will post 2.22 EPS for the current fiscal year.


Avangrid Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a $0.44 dividend. The ex-dividend date is Monday, June 3rd. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.97%. Avangrid's payout ratio is currently 76.19%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AGR. StockNews.com began coverage on shares of Avangrid in a research note on Saturday. They set a "hold" rating on the stock. Janney Montgomery Scott reiterated a "sell" rating and set a $35.00 price objective on shares of Avangrid in a research note on Friday, March 8th. Finally, Wells Fargo & Company increased their price objective on shares of Avangrid from $34.00 to $35.00 and gave the company an "equal weight" rating in a research note on Friday, February 23rd. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $34.75.

Get Our Latest Analysis on AGR

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Citigroup Inc. increased its holdings in shares of Avangrid by 3.5% in the 3rd quarter. Citigroup Inc. now owns 9,791 shares of the utilities provider's stock worth $295,000 after acquiring an additional 334 shares during the period. Quent Capital LLC increased its holdings in shares of Avangrid by 31.0% in the 1st quarter. Quent Capital LLC now owns 1,486 shares of the utilities provider's stock worth $54,000 after acquiring an additional 352 shares during the period. First Pacific Financial increased its holdings in shares of Avangrid by 3.1% in the 4th quarter. First Pacific Financial now owns 13,504 shares of the utilities provider's stock worth $438,000 after acquiring an additional 406 shares during the period. Bell Investment Advisors Inc increased its holdings in shares of Avangrid by 163.9% in 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. Finally, Harrington Investments INC increased its holdings in shares of Avangrid by 2.1% in the 1st quarter. Harrington Investments INC now owns 26,983 shares of the utilities provider's stock worth $983,000 after acquiring an additional 557 shares during the period. 13.12% of the stock is currently owned by institutional investors.

Avangrid Company Profile

(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.

Further Reading

Should you invest $1,000 in Avangrid right now?

Before you consider Avangrid, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Avangrid wasn't on the list.

While Avangrid currently has a "Reduce" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

13 Stocks Institutional Investors Won't Stop Buying Cover

Which stocks are major institutional investors including hedge funds and endowments buying in today's market? Click the link below and we'll send you MarketBeat's list of thirteen stocks that institutional investors are buying up as quickly as they can.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

CPI News Breakdown: Key Market Moves to Follow
Understanding Oversold Stocks
Inside Pelosi’s Latest Stock Moves

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines