National Grid plc (NYSE:NGG) Given Average Rating of “Moderate Buy” by Brokerages

Shares of National Grid plc (NYSE:NGG) have earned an average rating of “Moderate Buy” from the six research firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company.

Several equities research analysts have recently issued reports on NGG shares. Citigroup cut shares of National Grid from a “buy” rating to a “neutral” rating in a research report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft began coverage on shares of National Grid in a research note on Wednesday, October 2nd. They set a “buy” rating on the stock.

National Grid Price Performance

National Grid stock opened at $63.35 on Monday. The company has a fifty day simple moving average of $65.89 and a 200-day simple moving average of $64.07. National Grid has a 12-month low of $55.13 and a 12-month high of $73.40. The company has a quick ratio of 1.54, a current ratio of 1.61 and a debt-to-equity ratio of 1.18.

National Grid Announces Dividend

The business also recently declared a semi-annual dividend, which will be paid on Tuesday, January 14th. Investors of record on Friday, November 22nd will be paid a dividend of $2.4939 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a yield of 4%.

Institutional Investors Weigh In On National Grid

Several hedge funds and other institutional investors have recently bought and sold shares of NGG. Franklin Resources Inc. acquired a new position in National Grid in the third quarter valued at $316,000. Wilmington Savings Fund Society FSB acquired a new position in National Grid in the third quarter valued at $312,000. World Investment Advisors LLC acquired a new position in National Grid in the third quarter valued at $522,000. Coldstream Capital Management Inc. increased its stake in National Grid by 5.1% in the third quarter. Coldstream Capital Management Inc. now owns 4,969 shares of the utilities provider’s stock valued at $346,000 after purchasing an additional 242 shares during the period. Finally, M&T Bank Corp increased its stake in National Grid by 1.1% in the third quarter. M&T Bank Corp now owns 66,651 shares of the utilities provider’s stock valued at $4,644,000 after purchasing an additional 708 shares during the period. 4.68% of the stock is currently owned by institutional investors and hedge funds.

About National Grid

National Grid plc transmits and distributes electricity and gas. It operates through UK Electricity Transmission, UK Electricity Distribution, UK Electricity System Operator, New England, New York, National Grid Ventures, and Other segments. The UK Electricity Transmission segment provides electricity transmission and construction work services in England and Wales.