National Grid plc (NYSE:NGG) Given Average Recommendation of “Buy” by Analysts

National Grid plc (NYSE:NGG) has earned an average rating of “Buy” from the seven research firms that are currently covering the company, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a buy rating.

Several analysts have weighed in on NGG shares. Citigroup raised National Grid from a “neutral” rating to a “buy” rating in a research note on Monday, June 3rd. StockNews.com upgraded National Grid from a “sell” rating to a “hold” rating in a research report on Wednesday, April 3rd. BNP Paribas upgraded National Grid from an “underperform” rating to an “outperform” rating in a research report on Tuesday, April 2nd. Finally, The Goldman Sachs Group upgraded National Grid from a “neutral” rating to a “buy” rating in a research report on Wednesday, June 12th.

National Grid Trading Down 0.5 %

Shares of National Grid stock opened at $56.71 on Friday. The business’s fifty day moving average price is $63.51 and its two-hundred day moving average price is $65.89. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.41. National Grid has a 1-year low of $55.13 and a 1-year high of $73.40.

National Grid Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Friday, July 19th. Investors of record on Friday, June 7th will be issued a $2.4939 dividend. This represents a dividend yield of 6%. This is a boost from National Grid’s previous semi-annual dividend of $1.19. The ex-dividend date is Friday, June 7th.

Hedge Funds Weigh In On National Grid

A number of hedge funds have recently modified their holdings of NGG. RFP Financial Group LLC boosted its position in shares of National Grid by 119.8% in the first quarter. RFP Financial Group LLC now owns 367 shares of the utilities provider’s stock worth $25,000 after buying an additional 200 shares during the period. Headlands Technologies LLC acquired a new stake in shares of National Grid in the first quarter worth $27,000. Richardson Financial Services Inc. acquired a new stake in shares of National Grid in the first quarter worth $28,000. Creekmur Asset Management LLC acquired a new stake in shares of National Grid in the fourth quarter worth $29,000. Finally, Bessemer Group Inc. acquired a new stake in shares of National Grid in the first quarter worth $29,000. 4.68% of the stock is currently owned by institutional investors and hedge funds.

National Grid Company Profile

National Grid plc transmits and distributes electricity and gas. The company 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.