Avangrid, Inc. (NYSE:AGR) was the recipient of a significant growth in short interest in the month of October. As of October 13th, there was short interest totalling 4,674,675 shares, a growth of 82.0% from the September 29th total of 2,567,954 shares. Currently, 8.4% of the company’s shares are sold short. Based on an average daily volume of 432,222 shares, the days-to-cover ratio is currently 10.8 days.
Shares of Avangrid (AGR) opened at $51.09 on Friday. The company has a quick ratio of 0.63, a current ratio of 0.78 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $15,787.07, a PE ratio of 22.61, a P/E/G ratio of 2.78 and a beta of 0.55. Avangrid has a fifty-two week low of $35.42 and a fifty-two week high of $51.87.
Avangrid (NYSE:AGR) last released its quarterly earnings data on Tuesday, October 24th. The utilities provider reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.03. The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. Avangrid had a return on equity of 4.60% and a net margin of 11.23%. The firm’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.35 earnings per share. research analysts anticipate that Avangrid will post 2.22 EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC raised its holdings in shares of Avangrid by 102.2% in the second quarter. Proficio Capital Partners LLC now owns 2,704 shares of the utilities provider’s stock valued at $124,000 after acquiring an additional 1,367 shares in the last quarter. First Personal Financial Services raised its holdings in shares of Avangrid by 3.4% in the second quarter. First Personal Financial Services now owns 2,862 shares of the utilities provider’s stock valued at $126,000 after acquiring an additional 94 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of Avangrid by 20.1% in the second quarter. Parallel Advisors LLC now owns 3,265 shares of the utilities provider’s stock valued at $148,000 after acquiring an additional 546 shares in the last quarter. US Bancorp DE raised its holdings in shares of Avangrid by 59.4% in the second quarter. US Bancorp DE now owns 4,565 shares of the utilities provider’s stock valued at $201,000 after acquiring an additional 1,702 shares in the last quarter. Finally, McKinley Carter Wealth Services Inc. bought a new stake in shares of Avangrid in the third quarter valued at about $207,000. Hedge funds and other institutional investors own 13.20% of the company’s stock.
A number of analysts have recently issued reports on AGR shares. Zacks Investment Research lowered shares of Avangrid from a “hold” rating to a “sell” rating in a research note on Friday, October 13th. J P Morgan Chase & Co boosted their target price on shares of Avangrid from $43.00 to $47.00 and gave the company an “underweight” rating in a research note on Thursday, October 12th. Wells Fargo & Company lowered shares of Avangrid from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Evercore ISI raised shares of Avangrid from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $43.50 to $46.50 in a research note on Monday, July 24th. Finally, Bank of America Corporation started coverage on shares of Avangrid in a research note on Tuesday, October 24th. They set a “buy” rating and a $52.00 target price for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $47.50.
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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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