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

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

A number of analysts recently commented on NGG shares. Citigroup raised National Grid from a “neutral” rating to a “buy” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft started coverage on National Grid in a research note on Wednesday, October 2nd. They issued a “buy” rating for the company.

Hedge Funds Weigh In On National Grid

A number of institutional investors have recently added to or reduced their stakes in NGG. Fortitude Family Office LLC bought a new position in shares of National Grid during the third quarter valued at $37,000. Eastern Bank bought a new position in shares of National Grid during the third quarter valued at $42,000. Quantbot Technologies LP bought a new position in shares of National Grid during the third quarter valued at $60,000. Addison Advisors LLC increased its holdings 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 valued at $69,000 after acquiring an additional 718 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of National Grid by 45.4% during the third quarter. GAMMA Investing LLC now owns 1,005 shares of the utilities provider’s stock valued at $70,000 after acquiring an additional 314 shares in the last quarter. Institutional investors own 4.68% of the company’s stock.

National Grid Price Performance

NYSE:NGG traded up $1.22 during mid-day trading on Tuesday, reaching $60.75. The stock had a trading volume of 332,837 shares, compared to its average volume of 757,438. National Grid has a one year low of $55.13 and a one year high of $73.40. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.54 and a current ratio of 1.61. The firm has a 50 day moving average price of $60.38 and a two-hundred day moving average price of $63.76.

National Grid Dividend Announcement

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

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.