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

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

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. RFP Financial Group LLC raised its stake in shares of 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 in the last quarter. Headlands Technologies LLC bought a new stake in shares of National Grid in the 1st quarter worth $27,000. Richardson Financial Services Inc. bought a new stake in shares of National Grid in the 1st quarter worth $28,000. Creekmur Asset Management LLC bought a new stake in shares of National Grid in the 4th quarter worth $29,000. Finally, Bessemer Group Inc. bought a new stake in shares of National Grid in the 1st quarter worth $29,000. Institutional investors and hedge funds own 4.68% of the company’s stock.

National Grid Trading Up 0.2 %

Shares of NGG opened at $56.80 on Friday. The stock has a 50 day moving average of $63.16 and a 200-day moving average of $65.71. 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 has a 52 week low of $55.13 and a 52 week high of $73.40.

National Grid Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Friday, July 19th. Shareholders of record on Friday, June 7th will be given a dividend of $2.4939 per share. This represents a yield of 6%. The ex-dividend date of this dividend is Friday, June 7th. This is a positive change from National Grid’s previous semi-annual dividend of $1.19.

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.