Avangrid Inc (NYSE:AGR) saw a large decrease in short interest in the month of December. As of December 31st, there was short interest totalling 1,990,000 shares, a decrease of 10.8% from the December 15th total of 2,230,000 shares. Currently, 3.6% of the shares of the stock are sold short. Based on an average daily volume of 387,100 shares, the short-interest ratio is presently 5.1 days.
Avangrid stock traded up $0.01 during mid-day trading on Tuesday, hitting $50.77. 20,518 shares of the company’s stock were exchanged, compared to its average volume of 361,134. The firm has a market capitalization of $15.61 billion, a P/E ratio of 22.97, a PEG ratio of 2.82 and a beta of 0.12. Avangrid has a fifty-two week low of $47.45 and a fifty-two week high of $52.85. The company has a quick ratio of 0.57, a current ratio of 0.66 and a debt-to-equity ratio of 0.44. The company’s 50 day simple moving average is $50.04 and its 200-day simple moving average is $50.07.
Avangrid (NYSE:AGR) last issued its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $0.40 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.11). Avangrid had a return on equity of 3.98% and a net margin of 9.32%. The business had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same period in the previous year, the business posted $0.45 EPS. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. Research analysts expect that Avangrid will post 2.24 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Thursday, December 12th were given a dividend of $0.44 per share. The ex-dividend date was Wednesday, December 11th. This represents a $1.76 annualized dividend and a yield of 3.47%. Avangrid’s dividend payout ratio is currently 79.64%.
AGR has been the topic of several analyst reports. Zacks Investment Research lowered Avangrid from a “hold” rating to a “sell” rating in a research note on Friday, January 3rd. JPMorgan Chase & Co. upped their price objective on Avangrid from $47.00 to $50.00 and gave the company an “underweight” rating in a research note on Monday, October 14th. Four investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. Avangrid currently has an average rating of “Hold” and an average target price of $51.14.
Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. raised its position in shares of Avangrid by 8.0% during the 2nd quarter. BlackRock Inc. now owns 2,483,439 shares of the utilities provider’s stock valued at $125,413,000 after buying an additional 183,346 shares in the last quarter. First Trust Advisors LP grew its stake in Avangrid by 4.4% in the third quarter. First Trust Advisors LP now owns 1,737,955 shares of the utilities provider’s stock valued at $90,808,000 after purchasing an additional 73,168 shares in the last quarter. State Street Corp grew its stake in Avangrid by 1.0% in the third quarter. State Street Corp now owns 813,153 shares of the utilities provider’s stock valued at $42,841,000 after purchasing an additional 8,282 shares in the last quarter. Covalis Capital LLP grew its stake in Avangrid by 62.7% in the second quarter. Covalis Capital LLP now owns 616,606 shares of the utilities provider’s stock valued at $31,139,000 after purchasing an additional 237,706 shares in the last quarter. Finally, Robecosam AG grew its stake in Avangrid by 7.2% in the third quarter. Robecosam AG now owns 465,000 shares of the utilities provider’s stock valued at $24,292,000 after purchasing an additional 31,200 shares in the last quarter. Institutional investors and hedge funds own 14.55% of the company’s stock.
Avangrid, Inc operates as an energy services holding company in the United States. It operates through two segments, Networks and Renewables. The company engages in the generation, transmission, and distribution of electricity, as well as distribution, transportation, and sale of natural gas. It also develops, constructs, and operates renewable energy generation facilities primarily using onshore wind power, as well as solar, biomass, and thermal power.
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