Avangrid, Inc. (NYSE:AGR) Sees Significant Increase in Short Interest

Avangrid, Inc. (NYSE:AGR) was the recipient of a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 1,500,000 shares, a growth of 12.8% from the September 15th total of 1,330,000 shares. Approximately 2.1% of the shares of the stock are short sold. Based on an average trading volume of 626,400 shares, the short-interest ratio is presently 2.4 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on shares of Avangrid in a research note on Sunday. They issued a “hold” rating on the stock.

Avangrid Stock Up 0.1 %

Shares of AGR opened at $35.77 on Thursday. The company has a market capitalization of $13.84 billion, a P/E ratio of 15.48, a PEG ratio of 2.66 and a beta of 0.55. Avangrid has a one year low of $28.75 and a one year high of $37.70. The business’s 50 day simple moving average is $35.79 and its 200-day simple moving average is $35.86. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.52 and a quick ratio of 0.44.

Avangrid (NYSE:AGR) last issued its quarterly earnings data on Tuesday, July 23rd. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.22. Avangrid had a return on equity of 4.87% and a net margin of 11.35%. The firm had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the previous year, the company posted $0.21 EPS. The business’s revenue for the quarter was up 21.2% compared to the same quarter last year. As a group, sell-side analysts predict that Avangrid will post 2.24 EPS for the current fiscal year.

Avangrid Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 4.92%. The ex-dividend date of this dividend is Monday, December 2nd. Avangrid’s dividend payout ratio is 76.19%.

Institutional Trading of Avangrid

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Natixis boosted its stake in shares of Avangrid by 3,122.3% in the 1st quarter. Natixis now owns 166,432 shares of the utilities provider’s stock valued at $6,065,000 after purchasing an additional 161,267 shares during the last quarter. Versor Investments LP acquired a new stake in Avangrid during the 2nd quarter worth $5,468,000. Marshall Wace LLP grew its holdings in Avangrid by 973.5% during the 2nd quarter. Marshall Wace LLP now owns 150,602 shares of the utilities provider’s stock worth $5,351,000 after acquiring an additional 136,573 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of Avangrid during the 1st quarter valued at $4,504,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Avangrid in the 1st quarter valued at $4,396,000. 13.12% of the stock is currently owned by institutional investors and hedge funds.

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.