National Grid plc (NYSE:NGG) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of National Grid plc (NYSE:NGG) have received a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company.

Several equities analysts recently weighed in on NGG shares. Barclays restated an “overweight” rating on shares of National Grid in a research report on Friday, May 16th. UBS Group lowered shares of National Grid from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 29th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of National Grid in a research report on Wednesday, May 21st. Citigroup reiterated a “neutral” rating on shares of National Grid in a research report on Tuesday, May 6th. Finally, Sanford C. Bernstein upgraded shares of National Grid from a “market perform” rating to an “outperform” rating in a research report on Monday, March 17th.

Hedge Funds Weigh In On National Grid

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new stake in shares of National Grid in the fourth quarter worth about $67,324,000. Federated Hermes Inc. lifted its holdings in shares of National Grid by 49.8% in the first quarter. Federated Hermes Inc. now owns 3,133,548 shares of the utilities provider’s stock worth $205,592,000 after buying an additional 1,041,918 shares in the last quarter. Nuveen LLC purchased a new stake in shares of National Grid in the first quarter worth about $32,015,000. FMR LLC lifted its holdings in shares of National Grid by 11.9% in the fourth quarter. FMR LLC now owns 4,462,898 shares of the utilities provider’s stock worth $265,185,000 after buying an additional 473,172 shares in the last quarter. Finally, ABC Arbitrage SA purchased a new stake in shares of National Grid in the fourth quarter worth about $21,706,000. Institutional investors own 4.68% of the company’s stock.

National Grid Price Performance

NGG opened at $74.78 on Friday. The firm has a market cap of $73.17 billion, a P/E ratio of 14.38, a PEG ratio of 5.64 and a beta of 0.63. The firm has a 50-day moving average of $69.18 and a 200 day moving average of $63.85. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.54 and a current ratio of 1.61. National Grid has a fifty-two week low of $54.24 and a fifty-two week high of $74.82.

National Grid Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Monday, July 28th. Shareholders of record on Friday, May 30th will be given a dividend of $2.0345 per share. The ex-dividend date is Friday, May 30th. This represents a yield of 4.7%. National Grid’s dividend payout ratio is presently 78.08%.

National Grid Company Profile

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.