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

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

Several research analysts recently weighed in on NGG shares. Citigroup raised shares of National Grid from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft started coverage on shares of National Grid in a research report on Wednesday, October 2nd. They set a “buy” rating on the stock.

National Grid Price Performance

Shares of NYSE NGG opened at $60.28 on Tuesday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.61 and a quick ratio of 1.54. The company’s 50-day moving average price is $60.23 and its 200 day moving average price is $63.72. National Grid has a 52 week low of $55.13 and a 52 week high of $73.40.

National Grid Announces Dividend

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

Hedge Funds Weigh In On National Grid

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fortitude Family Office LLC acquired a new stake in shares of National Grid during the third quarter worth approximately $37,000. Eastern Bank bought a new stake in shares of National Grid in the 3rd quarter worth about $42,000. Quantbot Technologies LP acquired a new stake in shares of National Grid in the 3rd quarter valued at about $60,000. Addison Advisors LLC lifted its position in shares of National Grid by 267.9% during the third 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 last quarter. Finally, GAMMA Investing LLC grew its stake in National Grid by 45.4% in the third quarter. GAMMA Investing LLC now owns 1,005 shares of the utilities provider’s stock worth $70,000 after purchasing an additional 314 shares in the last quarter. 4.68% of the stock is owned by hedge funds and other 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.