Short Interest in Avangrid, Inc. (NYSE:AGR) Rises By 9.9%

Avangrid, Inc. (NYSE:AGR) was the recipient of a large growth in short interest in 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 volume of 608,000 shares, the short-interest ratio is currently 2.2 days. Approximately 1.9% of the shares of the stock are short sold.

Avangrid Trading Down 0.2 %

AGR stock traded down $0.08 during midday trading on Tuesday, hitting $35.71. 299,228 shares of the company’s stock were exchanged, compared to its average volume of 797,446. The stock’s fifty day moving average price is $35.77 and its 200-day moving average price is $35.87. Avangrid has a one year low of $27.46 and a one year high of $37.70. The company has a market cap of $13.82 billion, a PE ratio of 15.49, a price-to-earnings-growth ratio of 2.67 and a beta of 0.55. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.44 and a current ratio of 0.52.

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, 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 for the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter last year, the business posted $0.21 EPS. The company’s revenue for the quarter was up 21.2% on a year-over-year basis. Research analysts predict that Avangrid will post 2.24 earnings per share for the current fiscal year.

Avangrid Announces Dividend

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

Institutional Trading of Avangrid

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Clean Energy Transition LLP bought a new position in Avangrid during the fourth quarter worth about $75,620,000. Norges Bank bought a new stake in shares of Avangrid during the fourth quarter worth approximately $30,303,000. Natixis boosted its holdings in shares of Avangrid by 3,122.3% during the first quarter. Natixis now owns 166,432 shares of the utilities provider’s stock worth $6,065,000 after acquiring an additional 161,267 shares during the period. Versor Investments LP bought a new stake in shares of Avangrid in the second quarter valued at approximately $5,468,000. Finally, Hsbc Holdings PLC boosted its stake in shares of Avangrid by 65.1% in the fourth quarter. Hsbc Holdings PLC now owns 373,093 shares of the utilities provider’s stock valued at $12,088,000 after buying an additional 147,108 shares during the period. Institutional investors and hedge funds own 13.12% of the company’s stock.

Wall Street Analyst Weigh In

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