Zacks Investment Research Upgrades National Grid (NYSE:NGG) to Hold
Zacks Investment Research upgraded shares of National Grid (NYSE:NGG) from a sell rating to a hold rating in a research report sent to investors on Thursday, January 4th. The firm currently has $65.00 price objective on the utilities provider’s stock.
According to Zacks, “NATIONAL GRID -ADR is an international energy delivery business, whose principal activities are in the regulated electricity and gas industries. They own and operate the high-voltage electricity transmission network in England and Wales, and Britain’s natural gas transportation system. In the US they are one of the top ten electricity companies, with the largest electricity transmission and distribution network in the New England/New York region. “
Several other equities analysts have also recently weighed in on NGG. JPMorgan Chase & Co. reiterated a buy rating on shares of National Grid in a research note on Wednesday, November 15th. Credit Suisse Group upgraded shares of National Grid from an underperform rating to a neutral rating in a research note on Monday, November 27th. ValuEngine upgraded shares of National Grid from a hold rating to a buy rating in a research note on Friday, December 1st. Deutsche Bank upgraded shares of National Grid from a sell rating to a hold rating in a research note on Wednesday, December 6th. Finally, Macquarie upgraded shares of National Grid from a neutral rating to an outperform rating in a research note on Tuesday, December 19th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $67.00.
The business also recently disclosed a semiannual dividend, which was paid on Wednesday, January 10th. Shareholders of record on Friday, November 24th were issued a dividend of $1.0169 per share. This represents a yield of 3.44%. The ex-dividend date of this dividend was Wednesday, November 22nd. National Grid’s dividend payout ratio (DPR) is currently 55.82%.
A number of institutional investors and hedge funds have recently made changes to their positions in NGG. Comerica Securities Inc. grew its holdings in shares of National Grid by 0.5% in the second quarter. Comerica Securities Inc. now owns 8,134 shares of the utilities provider’s stock valued at $511,000 after purchasing an additional 37 shares in the last quarter. State Street Corp grew its holdings in shares of National Grid by 2.7% in the second quarter. State Street Corp now owns 7,910 shares of the utilities provider’s stock valued at $497,000 after purchasing an additional 206 shares in the last quarter. HighVista Strategies LLC grew its holdings in shares of National Grid by 1.2% in the second quarter. HighVista Strategies LLC now owns 27,043 shares of the utilities provider’s stock valued at $1,699,000 after purchasing an additional 320 shares in the last quarter. Bronfman E.L. Rothschild L.P. grew its holdings in shares of National Grid by 30.5% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 2,517 shares of the utilities provider’s stock valued at $158,000 after purchasing an additional 589 shares in the last quarter. Finally, First Bank & Trust grew its holdings in shares of National Grid by 2.9% in the third quarter. First Bank & Trust now owns 29,600 shares of the utilities provider’s stock valued at $1,856,000 after purchasing an additional 830 shares in the last quarter. 5.59% of the stock is owned by institutional investors and hedge funds.
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National Grid Company Profile
National Grid plc is an electricity and gas utility company focused on transmission and distribution activities in electricity and gas in both the United Kingdom and the United States. The Company’s segments include UK Electricity Transmission, which is engaged in high voltage electricity transmission networks in Great Britain; UK Gas Transmission, which is the gas transmission network in Great Britain and United Kingdom liquefied natural gas (LNG) storage activities; UK Gas Distribution, which includes approximately four of the eight regional networks of Great Britain’s gas distribution system, and US Regulated, which includes gas distribution networks, electricity distribution networks and high voltage electricity transmission networks in New York, and New England and electricity generation facilities in New York.
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