Avangrid, Inc. (NYSE:AGR) Short Interest Up 9.9% in September

Avangrid, Inc. (NYSE:AGR) was the target of a significant growth in short interest during 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 trading 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.

Wall Street Analyst Weigh In

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

Avangrid Trading Down 0.2 %

NYSE AGR traded down $0.06 on Tuesday, hitting $35.73. The company’s stock had a trading volume of 581,389 shares, compared to its average volume of 798,939. The firm has a market cap of $13.82 billion, a P/E ratio of 15.49, a PEG ratio of 2.67 and a beta of 0.55. 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 has a 52-week low of $27.46 and a 52-week high of $37.70. The company’s 50-day simple moving average is $35.77 and its 200 day simple moving average is $35.87.

Avangrid (NYSE:AGR) last issued its quarterly earnings results on Tuesday, July 23rd. The utilities provider reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.22. The firm had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Avangrid had a return on equity of 4.87% and a net margin of 11.35%. The business’s revenue for the quarter was up 21.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.21 EPS. Research analysts predict that Avangrid will post 2.24 EPS for the current fiscal year.

Avangrid Announces Dividend

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

Hedge Funds Weigh In On Avangrid

A number of hedge funds have recently added to or reduced their stakes in the company. Clean Energy Transition LLP purchased a new stake in Avangrid during the 4th quarter valued at $75,620,000. Norges Bank bought a new stake in Avangrid in the 4th quarter worth about $30,303,000. Hsbc Holdings PLC lifted its position in Avangrid by 65.1% during the fourth quarter. Hsbc Holdings PLC now owns 373,093 shares of the utilities provider’s stock valued at $12,088,000 after purchasing an additional 147,108 shares during the period. Gamco Investors INC. ET AL grew its holdings in shares of Avangrid by 2.1% in the first quarter. Gamco Investors INC. ET AL now owns 359,807 shares of the utilities provider’s stock worth $13,111,000 after acquiring an additional 7,370 shares during the period. Finally, Millennium Management LLC increased its position in Avangrid by 34.7% during the second quarter. Millennium Management LLC now owns 308,134 shares of the utilities provider’s stock valued at $10,948,000 after acquiring an additional 79,463 shares during the last quarter. 13.12% of the stock is currently owned by hedge funds and other institutional investors.

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.