Red Eléctrica Corporación (OTCMKTS:RDEIY) Downgraded to Sector Perform at Royal Bank of Canada

Royal Bank of Canada downgraded shares of Red Eléctrica Corporación (OTCMKTS:RDEIY – Get Rating) from an outperform rating to a sector perform rating in a research report sent to investors on Tuesday, The Fly reports.

Other research analysts also recently issued research reports about the company. Grupo Santander raised Red Eléctrica Corporación from a neutral rating to an outperform rating and set a €18.64 ($20.04) price target on the stock in a research note on Friday, November 18th. JPMorgan Chase & Co. downgraded Red Eléctrica Corporación from a neutral rating to an underweight rating in a research note on Friday, December 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $18.35.

Red Eléctrica Corporación Stock Performance

OTCMKTS:RDEIY opened at $8.40 on Tuesday. Red Eléctrica Corporación has a 12 month low of $7.03 and a 12 month high of $10.64. The company’s 50-day moving average price is $8.64 and its two-hundred day moving average price is $8.54.

Red Eléctrica Corporación Cuts Dividend

The company also recently announced a dividend, which was paid on Tuesday, January 24th. Investors of record on Friday, January 6th were issued a $0.1035 dividend. The ex-dividend date of this dividend was Thursday, January 5th. This represents a yield of 4.19%.

Red Eléctrica Corporación Company Profile

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Red Eléctrica Corp. SA engages in the power transmission and operation of electrical systems. It also offers telecommunication services and other related activities. The company was founded on January 29, 1985 and is headquartered in Alcobendas, Spain.