Avangrid Inc. (NYSE:AGR) shares dropped 1.4% on Wednesday . The stock traded as low as $44.31 and last traded at $44.37, with a volume of 276,618 shares traded. The stock had previously closed at $45.00.

Separately, Zacks Investment Research cut Avangrid from a “buy” rating to a “hold” rating in a research note on Tuesday, June 28th. Four investment analysts have rated the stock with a hold rating and three 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 $41.00.

The stock has a market cap of $13.76 billion and a P/E ratio of 32.09. The company has a 50-day moving average price of $44.47 and a 200-day moving average price of $40.70.

Avangrid (NYSE:AGR) last issued its quarterly earnings data on Monday, July 18th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by $0.11. On average, equities analysts predict that Avangrid Inc. will post $2.12 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 9th will be paid a $0.432 dividend. The ex-dividend date is Wednesday, September 7th. This represents a $1.73 dividend on an annualized basis and a dividend yield of 3.88%.

In related news, insider R. Scott Mahoney bought 1,000 shares of the business’s stock in a transaction dated Thursday, May 12th. The shares were acquired at an average price of $40.46 per share, for a total transaction of $40,460.00. Following the purchase, the insider now owns 40,461 shares in the company, valued at approximately $1,637,052.06. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Several large investors recently modified their holdings of AGR. Russell Frank Co bought a new stake in shares of Avangrid during the fourth quarter worth about $1,124,000. State Board of Administration of Florida Retirement System bought a new stake in shares of Avangrid during the fourth quarter worth about $1,725,000. Rhumbline Advisers bought a new stake in shares of Avangrid during the fourth quarter worth about $3,389,000. California Public Employees Retirement System bought a new stake in shares of Avangrid during the fourth quarter worth about $4,266,000. Finally, New York State Common Retirement Fund bought a new stake in shares of Avangrid during the fourth quarter worth about $2,031,000.

Avangrid, Inc is a diversified energy and utility company with more than $30 billion in assets and operations in 25 states. The company operates regulated utilities and electricity generation through two primary lines of business. Avangrid Networks includes eight electric and natural gas utilities, serving approximately 3.1 million customers in New York and New England.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.