Avangrid, Inc. (NYSE:AGR) Short Interest Update

Avangrid, Inc. (NYSE:AGR) was the recipient of a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 1,330,000 shares, a growth of 9.9% from the August 31st total of 1,210,000 shares. Based on an average daily trading volume, of 608,000 shares, the short-interest ratio is currently 2.2 days. Currently, 1.9% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on Avangrid in a research report on Friday. They set a “hold” rating on the stock.

Avangrid Stock Down 0.2 %

AGR stock traded down $0.08 during mid-day trading on Tuesday, hitting $35.71. The stock had a trading volume of 299,228 shares, compared to its average volume of 797,446. The stock has a market capitalization of $13.82 billion, a price-to-earnings ratio of 15.49, a PEG ratio of 2.67 and a beta of 0.55. The company has a fifty day moving average of $35.77 and a 200 day moving average of $35.87. Avangrid has a 1-year low of $27.46 and a 1-year high of $37.70. The company has a current ratio of 0.52, a quick ratio of 0.44 and a debt-to-equity ratio of 0.49.

Avangrid (NYSE:AGR) last released its quarterly earnings results on Tuesday, July 23rd. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.22. The company had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.72 billion. Avangrid had a return on equity of 4.87% and a net margin of 11.35%. The firm’s revenue was up 21.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.21 EPS. On average, equities analysts expect that Avangrid will post 2.24 EPS for the current fiscal year.

Avangrid Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.76 annualized dividend and a yield of 4.93%. Avangrid’s payout ratio is 76.19%.

Institutional Trading of Avangrid

Several hedge funds have recently added to or reduced their stakes in AGR. Clean Energy Transition LLP acquired a new position in Avangrid in the 4th quarter valued at approximately $75,620,000. Norges Bank acquired a new position in Avangrid in the 4th quarter valued at approximately $30,303,000. Hsbc Holdings PLC raised its holdings in shares of Avangrid by 65.1% in the 4th quarter. Hsbc Holdings PLC now owns 373,093 shares of the utilities provider’s stock worth $12,088,000 after buying an additional 147,108 shares in the last quarter. Gamco Investors INC. ET AL raised its holdings in shares of Avangrid by 2.1% in the 1st quarter. Gamco Investors INC. ET AL now owns 359,807 shares of the utilities provider’s stock worth $13,111,000 after buying an additional 7,370 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Avangrid by 34.7% in the 2nd quarter. Millennium Management LLC now owns 308,134 shares of the utilities provider’s stock worth $10,948,000 after buying an additional 79,463 shares in the last quarter. Institutional investors own 13.12% of the company’s stock.

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.