National Grid (NYSE:NGG) Upgraded by Citigroup to Buy Rating

Citigroup upgraded shares of National Grid (NYSE:NGG) from a neutral rating to a buy rating in a report released on Tuesday, Marketbeat.com reports.

Separately, Deutsche Bank Aktiengesellschaft assumed coverage on shares of National Grid in a report on Wednesday, October 2nd. They set a “buy” rating for the company. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, National Grid has an average rating of “Moderate Buy”.

National Grid Stock Up 3.5 %

Shares of NGG stock opened at $61.60 on Tuesday. National Grid has a one year low of $55.13 and a one year 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. The stock has a fifty day moving average price of $60.38 and a 200 day moving average price of $63.76.

National Grid Dividend Announcement

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in NGG. FMR LLC increased its position in shares of National Grid by 77.3% during the 3rd quarter. FMR LLC now owns 3,989,726 shares of the utilities provider’s stock worth $277,964,000 after purchasing an additional 1,739,566 shares in the last quarter. Merewether Investment Management LP acquired a new stake in shares of National Grid during the third quarter worth approximately $66,535,000. Ausbil Investment Management Ltd bought a new position in shares of National Grid in the third quarter valued at approximately $62,421,000. Bank of Montreal Can boosted its holdings in shares of National Grid by 3.1% in the 3rd quarter. Bank of Montreal Can now owns 553,394 shares of the utilities provider’s stock worth $38,588,000 after acquiring an additional 16,610 shares in the last quarter. Finally, Mediolanum International Funds Ltd bought a new stake in National Grid during the 3rd quarter worth approximately $38,021,000. 4.68% of the stock is owned by institutional investors.

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.