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

National Grid plc (NYSE:NGG) has been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating and five have issued a buy rating on the company.

A number of equities analysts recently weighed in on the stock. 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 assumed coverage on shares of National Grid in a research report on Wednesday, October 2nd. They set a “buy” rating for the company.

National Grid Trading Up 0.8 %

NYSE:NGG opened at $63.35 on Monday. 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 company has a 50 day moving average price of $65.89 and a 200 day moving average price of $64.07. 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 firm also recently declared a semi-annual dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Friday, November 22nd will be given a $2.4939 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a yield of 4%.

Hedge Funds Weigh In On National Grid

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Moors & Cabot Inc. boosted its position in National Grid by 3.2% in the 3rd quarter. Moors & Cabot Inc. now owns 5,600 shares of the utilities provider’s stock valued at $390,000 after buying an additional 175 shares during the period. Profund Advisors LLC boosted its position in National Grid by 3.0% in the 2nd quarter. Profund Advisors LLC now owns 7,003 shares of the utilities provider’s stock valued at $398,000 after buying an additional 203 shares during the period. Carr Financial Group Corp boosted its position in National Grid by 3.9% in the 3rd quarter. Carr Financial Group Corp now owns 5,416 shares of the utilities provider’s stock valued at $377,000 after buying an additional 205 shares during the period. Concord Wealth Partners boosted its position in National Grid by 11.2% in the 3rd quarter. Concord Wealth Partners now owns 2,053 shares of the utilities provider’s stock valued at $143,000 after buying an additional 206 shares during the period. Finally, Bailard Inc. lifted its position in shares of National Grid by 4.4% during the 2nd quarter. Bailard Inc. now owns 5,116 shares of the utilities provider’s stock worth $291,000 after purchasing an additional 217 shares during the last quarter. Hedge funds and other institutional investors 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.