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

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

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on shares of Avangrid in a report on Friday. They set a “hold” rating for the company.

Avangrid Price Performance

AGR traded down $0.06 during midday trading on Tuesday, hitting $35.73. The company had a trading volume of 581,389 shares, compared to its average volume of 798,939. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.44 and a current ratio of 0.52. The company has a market capitalization of $13.82 billion, a PE ratio of 15.47, a P/E/G ratio of 2.67 and a beta of 0.55. Avangrid has a twelve month low of $27.46 and a twelve month high of $37.70. The firm’s 50-day simple moving average is $35.77 and its 200-day simple moving average is $35.87.

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

Avangrid Dividend Announcement

The firm 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 dividend of $0.44 per share. 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 76.19%.

Institutional Investors Weigh In On Avangrid

Several institutional investors have recently modified their holdings of the business. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Avangrid by 41.5% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 111,088 shares of the utilities provider’s stock worth $3,947,000 after buying an additional 32,570 shares during the period. Water Island Capital LLC acquired a new stake in shares of Avangrid during the 2nd quarter worth approximately $1,204,000. Creative Planning grew its position in shares of Avangrid by 6.1% during the 2nd quarter. Creative Planning now owns 32,368 shares of the utilities provider’s stock worth $1,150,000 after buying an additional 1,862 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in shares of Avangrid during the 2nd quarter worth approximately $318,000. Finally, Millennium Management LLC grew its position in shares of Avangrid by 34.7% during 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 during the period. Institutional investors and hedge funds own 13.12% of the company’s stock.

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.