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

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

Several brokerages recently issued reports on NGG. Citigroup cut shares of National Grid from a “buy” rating to a “neutral” rating in a research note on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft began coverage on National Grid in a research report on Wednesday, October 2nd. They issued a “buy” rating for the company.

National Grid Stock Performance

National Grid stock opened at $57.68 on Friday. The company has a fifty day simple moving average of $63.52 and a 200-day simple moving average of $63.48. The company has a quick ratio of 1.54, a current ratio of 1.61 and a debt-to-equity ratio of 1.18. National Grid has a 52-week low of $55.13 and a 52-week high of $73.40.

National Grid Dividend Announcement

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

Hedge Funds Weigh In On National Grid

Several institutional investors and hedge funds have recently bought and sold shares of the company. Franklin Resources Inc. acquired a new position in National Grid in the third quarter valued at approximately $316,000. Wilmington Savings Fund Society FSB purchased a new stake in National Grid in the third quarter valued at $312,000. World Investment Advisors LLC acquired a new position in shares of National Grid in the 3rd quarter valued at $522,000. Coldstream Capital Management Inc. grew its holdings in shares of National Grid by 5.1% during the 3rd quarter. Coldstream Capital Management Inc. now owns 4,969 shares of the utilities provider’s stock worth $346,000 after purchasing an additional 242 shares during the period. Finally, M&T Bank Corp increased its position in shares of National Grid by 1.1% during the 3rd quarter. M&T Bank Corp now owns 66,651 shares of the utilities provider’s stock worth $4,644,000 after purchasing an additional 708 shares during the last quarter. 4.68% of the stock is currently owned by institutional investors and hedge funds.

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.