Avangrid, Inc. (NYSE:AGR) Short Interest Up 5.9% in April

Avangrid, Inc. (NYSE:AGR) saw a large increase in short interest in April. As of April 15th, there was short interest totalling 3,600,000 shares, an increase of 5.9% from the March 31st total of 3,400,000 shares. Currently, 5.3% of the company’s stock are short sold. Based on an average daily trading volume, of 959,600 shares, the days-to-cover ratio is presently 3.8 days.

Institutional Investors Weigh In On Avangrid

Several large investors have recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. grew its position in Avangrid by 2,285.5% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 96,754 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 92,698 shares during the last quarter. Lindbrook Capital LLC boosted its stake in Avangrid by 132.5% in the third quarter. Lindbrook Capital LLC now owns 1,258 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 717 shares in the last quarter. BKM Wealth Management LLC bought a new stake in shares of Avangrid during the fourth quarter worth $41,000. GAMMA Investing LLC acquired a new stake in shares of Avangrid in the fourth quarter valued at $60,000. Finally, Clearstead Advisors LLC raised its holdings in shares of Avangrid by 60.7% in the third quarter. Clearstead Advisors LLC now owns 3,178 shares of the utilities provider’s stock valued at $96,000 after buying an additional 1,200 shares during the last quarter. Institutional investors own 13.12% of the company’s stock.

Avangrid Stock Up 0.3 %

Shares of AGR opened at $36.65 on Thursday. The company has a quick ratio of 0.50, a current ratio of 0.58 and a debt-to-equity ratio of 0.47. The company has a 50-day moving average price of $35.19 and a two-hundred day moving average price of $32.77. The stock has a market cap of $14.18 billion, a price-to-earnings ratio of 15.86, a P/E/G ratio of 2.74 and a beta of 0.56. Avangrid has a 12 month low of $27.46 and a 12 month high of $41.22.

Avangrid (NYSE:AGR) last posted its earnings results on Wednesday, April 24th. The utilities provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.70 by $0.18. Avangrid had a return on equity of 4.35% and a net margin of 10.80%. The business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter last year, the company earned $0.64 EPS. Avangrid’s revenue was down 2.0% on a year-over-year basis. Equities analysts predict that Avangrid will post 2.23 EPS for the current fiscal year.

Avangrid Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a $0.44 dividend. The ex-dividend date is Friday, May 31st. This represents a $1.76 annualized dividend and a dividend yield of 4.80%. Avangrid’s dividend payout ratio is presently 76.19%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. StockNews.com raised Avangrid from a “sell” rating to a “hold” rating in a research note on Friday, February 23rd. Wells Fargo & Company upped their price target on Avangrid from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Friday, February 23rd. Mizuho boosted their target price on Avangrid from $33.00 to $34.00 and gave the stock a “neutral” rating in a report on Wednesday, January 3rd. Finally, Janney Montgomery Scott reaffirmed a “sell” rating and issued a $35.00 price target on shares of Avangrid in a research report on Friday, March 8th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat, Avangrid presently has a consensus rating of “Hold” and an average target price of $34.75.

About Avangrid

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.