Sanford C. Bernstein upgraded shares of National Grid (NYSE:NGG) from a market perform rating to an outperform rating in a report published on Friday morning, Briefing.com Automated Import reports.
Separately, Zacks Investment Research lowered shares of National Grid from a hold rating to a sell rating in a research report on Wednesday, May 15th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $61.00.
NGG opened at $52.56 on Friday. The company has a market capitalization of $35.32 billion, a price-to-earnings ratio of 13.72, a PEG ratio of 10.09 and a beta of 0.43. National Grid has a 1-year low of $46.36 and a 1-year high of $59.01. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83.
The company also recently declared a semiannual dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Friday, May 31st will be given a $2.0256 dividend. The ex-dividend date is Thursday, May 30th. National Grid’s payout ratio is currently 104.70%.
Several institutional investors and hedge funds have recently bought and sold shares of NGG. Stevens Capital Management LP bought a new position in shares of National Grid in the fourth quarter worth approximately $426,000. Argent Trust Co bought a new position in shares of National Grid in the fourth quarter worth approximately $735,000. Enlightenment Research LLC purchased a new position in shares of National Grid in the fourth quarter worth $77,000. Comerica Bank lifted its holdings in shares of National Grid by 7.9% in the fourth quarter. Comerica Bank now owns 55,885 shares of the utilities provider’s stock worth $2,980,000 after buying an additional 4,109 shares in the last quarter. Finally, Loudon Investment Management LLC purchased a new position in shares of National Grid in the fourth quarter worth $1,039,000. Institutional investors and hedge funds own 5.70% of the company’s stock.
About National Grid
National Grid plc transmits and distributes electricity and natural gas. It operates through UK Electricity Transmission, UK Gas Transmission, US Regulated, and National Grid Ventures and Other Activities segments. The UK Electricity Transmission segment owns and operates electricity transmission networks, which comprise approximately 7,200 kilometers of overhead lines; 1,560 kilometers of underground cables; and 346 substations in England and Wales, as well as Scottish electricity transmission systems.
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