Shares of Avangrid Inc. (NYSE:AGR) fell 2.7% during mid-day trading on Friday . The company traded as low as $41.93 and last traded at $42.01, with a volume of 213,539 shares trading hands. The stock had previously closed at $43.18.

Separately, Zacks Investment Research cut Avangrid from a “buy” rating to a “hold” rating in a research report on Tuesday, June 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $41.00.

The company has a market cap of $12.98 billion and a PE ratio of 25.64. The company has a 50-day moving average price of $44.46 and a 200-day moving average price of $41.80.

Avangrid (NYSE:AGR) last released its earnings results on Monday, July 18th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by $0.11. Equities research analysts forecast that Avangrid Inc. will post $2.11 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 9th will be issued a $0.432 dividend. This represents a $1.73 annualized dividend and a dividend yield of 4.11%. The ex-dividend date is Wednesday, September 7th.

A hedge fund recently bought a new stake in Avangrid stock. New York State Common Retirement Fund bought a new stake in shares of Avangrid Inc. (NYSE:AGR) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 52,900 shares of the company’s stock, valued at approximately $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.

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