National Grid plc (NYSE:NGG) Receives Average Recommendation of “Buy” from Analysts

National Grid plc (NYSE:NGG) has been given an average rating of “Buy” by the five analysts that are covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy recommendation.

Several research firms have weighed in on NGG. Deutsche Bank Aktiengesellschaft began coverage on National Grid in a research note on Wednesday, October 2nd. They set a “buy” rating on the stock. Citigroup upgraded National Grid from a “neutral” rating to a “buy” rating in a research note on Tuesday.

National Grid Stock Performance

National Grid stock opened at $60.72 on Tuesday. The company has a current ratio of 1.61, a quick ratio of 1.54 and a debt-to-equity ratio of 1.18. The business’s 50-day simple moving average is $60.31 and its two-hundred day simple moving average is $63.75. National Grid has a fifty-two week low of $55.13 and a fifty-two week high of $73.40.

National Grid Announces Dividend

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

Hedge Funds Weigh In On National Grid

Large investors have recently bought and sold shares of the business. Fortitude Family Office LLC acquired a new position in National Grid in the 3rd quarter worth about $37,000. Eastern Bank acquired a new position in National Grid in the 3rd quarter worth about $42,000. Quantbot Technologies LP acquired a new position in National Grid in the 3rd quarter worth about $60,000. Addison Advisors LLC raised its holdings in National Grid by 267.9% in the 3rd quarter. Addison Advisors LLC now owns 986 shares of the utilities provider’s stock worth $69,000 after purchasing an additional 718 shares during the period. Finally, GAMMA Investing LLC raised its holdings in National Grid by 45.4% in the 3rd quarter. GAMMA Investing LLC now owns 1,005 shares of the utilities provider’s stock worth $70,000 after purchasing an additional 314 shares during the period. Institutional investors and hedge funds own 4.68% of the company’s stock.

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.