National Grid plc (NYSE:NGG) has earned an average recommendation of “Hold” from the fourteen analysts that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company.
Several research firms recently commented on NGG. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of National Grid in a report on Friday, June 19th. Deutsche Bank raised National Grid from a “hold” rating to a “buy” rating in a research note on Friday, July 17th. UBS Group restated a “buy” rating on shares of National Grid in a research report on Thursday, September 3rd. ValuEngine downgraded National Grid from a “hold” rating to a “sell” rating in a research report on Thursday, June 4th. Finally, Zacks Investment Research upgraded shares of National Grid from a “sell” rating to a “hold” rating in a report on Tuesday, June 9th.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its stake in National Grid by 17.4% during the first quarter. Royal Bank of Canada now owns 1,043,415 shares of the utilities provider’s stock worth $60,800,000 after acquiring an additional 154,401 shares in the last quarter. Parametric Portfolio Associates LLC grew its stake in shares of National Grid by 12.8% in the first quarter. Parametric Portfolio Associates LLC now owns 925,067 shares of the utilities provider’s stock worth $53,904,000 after acquiring an additional 104,858 shares during the last quarter. Nuveen Asset Management LLC raised its position in shares of National Grid by 50.1% in the 1st quarter. Nuveen Asset Management LLC now owns 890,292 shares of the utilities provider’s stock worth $51,877,000 after purchasing an additional 297,326 shares during the last quarter. Morgan Stanley grew its position in National Grid by 1.2% during the 1st quarter. Morgan Stanley now owns 721,025 shares of the utilities provider’s stock valued at $42,015,000 after purchasing an additional 8,509 shares during the last quarter. Finally, Jane Street Group LLC increased its stake in National Grid by 4,432.4% during the 2nd quarter. Jane Street Group LLC now owns 316,046 shares of the utilities provider’s stock valued at $19,197,000 after purchasing an additional 309,073 shares in the last quarter. Institutional investors own 4.30% of the company’s stock.
The company also recently disclosed a semi-annual dividend, which was paid on Wednesday, August 19th. Shareholders of record on Thursday, July 2nd were given a dividend of $2.0126 per share. The ex-dividend date was Wednesday, July 1st. This represents a yield of 5.1%. National Grid’s payout ratio is 113.03%.
About National Grid
National Grid plc transmits and distributes electricity and natural gas. It operates through UK Electricity Transmission, UK Gas Transmission, US Regulated, and National Grid Ventures and Other Activities segments. The UK Electricity Transmission segment owns and operates electricity transmission networks, which comprise approximately 7,200 kilometers of overhead lines; 1,560 kilometers of underground cables; and 346 substations in England and Wales, as well as Scottish electricity transmission systems.
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