National Grid plc (NYSE:NGG) Receives Average Recommendation of “Buy” from Brokerages

Shares of National Grid plc (NYSE:NGG) have been given an average rating of “Buy” by the seven research firms that are currently covering the company, Marketbeat.com reports. Seven investment analysts have rated the stock with a buy recommendation.

Several brokerages have recently issued reports on NGG. The Goldman Sachs Group raised shares of National Grid from a “neutral” rating to a “buy” rating in a research report on Wednesday, June 12th. Citigroup raised shares of National Grid from a “neutral” rating to a “buy” rating in a research report on Monday, June 3rd. StockNews.com raised National Grid from a “sell” rating to a “hold” rating in a report on Wednesday, April 3rd. Finally, BNP Paribas upgraded shares of National Grid from an “underperform” rating to an “outperform” rating in a research report on Tuesday, April 2nd.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. RFP Financial Group LLC lifted its position in National Grid by 119.8% in the 1st quarter. RFP Financial Group LLC now owns 367 shares of the utilities provider’s stock worth $25,000 after buying an additional 200 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of National Grid in the 1st quarter worth approximately $27,000. Richardson Financial Services Inc. purchased a new stake in National Grid during the 1st quarter valued at about $28,000. Creekmur Asset Management LLC bought a new position in National Grid during the fourth quarter valued at approximately $29,000. Finally, Bessemer Group Inc. bought a new position in shares of National Grid in the 1st quarter worth approximately $29,000. 4.68% of the stock is currently owned by hedge funds and other institutional investors.

National Grid Trading Up 1.5 %

NYSE NGG opened at $63.62 on Tuesday. The stock has a 50-day simple moving average of $59.94 and a 200 day simple moving average of $64.70. National Grid has a 12 month low of $55.13 and a 12 month high of $73.40. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.41.

National Grid Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Friday, July 19th. Investors of record on Friday, June 7th were issued a $2.4939 dividend. The ex-dividend date of this dividend was Friday, June 7th. This is an increase from National Grid’s previous semi-annual dividend of $1.19. This represents a yield of 6%.

About National Grid

National Grid plc transmits and distributes electricity and gas. The company 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.