Avangrid, Inc. (AGR) Short Interest Update

Avangrid, Inc. (NYSE:AGR) was the recipient of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 2,143,795 shares, an increase of 59.1% from the August 31st total of 1,347,442 shares. Based on an average daily trading volume, of 324,131 shares, the short-interest ratio is currently 6.6 days. Approximately 3.9% of the shares of the stock are short sold.

Separately, Evercore ISI upgraded shares of Avangrid from an “in-line” rating to an “outperform” rating and upped their price target for the company from $43.50 to $46.50 in a report on Monday, July 24th.

A number of institutional investors have recently added to or reduced their stakes in AGR. BlackRock Inc. increased its position in Avangrid by 34,543.3% during the first quarter. BlackRock Inc. now owns 2,105,968 shares of the utilities provider’s stock worth $90,008,000 after purchasing an additional 2,099,889 shares during the last quarter. Global X Management Co. LLC increased its position in Avangrid by 10,006.4% during the first quarter. Global X Management Co. LLC now owns 187,979 shares of the utilities provider’s stock worth $8,034,000 after purchasing an additional 186,119 shares during the last quarter. Vanguard Group Inc. increased its position in Avangrid by 3.5% during the second quarter. Vanguard Group Inc. now owns 5,324,114 shares of the utilities provider’s stock worth $235,061,000 after purchasing an additional 181,812 shares during the last quarter. Asset Management One Co. Ltd. acquired a new stake in Avangrid during the first quarter worth about $7,075,000. Finally, Victory Capital Management Inc. acquired a new stake in Avangrid during the first quarter worth about $7,036,000. Hedge funds and other institutional investors own 13.22% of the company’s stock.

Avangrid (NYSE:AGR) opened at 47.64 on Friday. Avangrid has a one year low of $35.42 and a one year high of $49.04. The company has a market capitalization of $14.72 billion, a P/E ratio of 21.84 and a beta of 0.48. The company’s 50-day moving average is $47.73 and its 200 day moving average is $45.34.

Avangrid (NYSE:AGR) last released its quarterly earnings data on Wednesday, July 19th. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.06. Avangrid had a net margin of 11.25% and a return on equity of 4.52%. The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same period last year, the business earned $0.33 earnings per share. Avangrid’s revenue was down 7.5% compared to the same quarter last year. On average, equities analysts anticipate that Avangrid will post $2.23 earnings per share for the current year.

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Avangrid Company Profile

Avangrid, Inc is an energy and utility company. The Company operates through three segments: Networks, Renewables and Gas. The Networks segment includes all the energy transmission and distribution activities, and any other regulated activity originating in New York and Maine, and regulated electric distribution, electric transmission and gas distribution activities originating in Connecticut and Massachusetts.

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