National Grid (NYSE:NGG) Coverage Initiated by Analysts at BNP Paribas Exane

BNP Paribas Exane began coverage on shares of National Grid (NYSE:NGG - Free Report) in a report released on Thursday, Marketbeat.com reports. The firm issued an outperform rating and a $80.40 price target on the utilities provider's stock.

NGG has been the subject of a number of other reports. Wall Street Zen downgraded National Grid from a "hold" rating to a "sell" rating in a research report on Friday, May 16th. Royal Bank of Canada downgraded National Grid from an "outperform" rating to a "sector perform" rating in a research report on Wednesday. Citigroup restated a "neutral" rating on shares of National Grid in a research report on Tuesday, May 6th. BNP Paribas upgraded National Grid from an "outperform" rating to a "strong-buy" rating in a research report on Thursday. Finally, Barclays restated an "overweight" rating on shares of National Grid in a research report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $80.40.

National Grid Trading Down 1.6%

Shares of NGG traded down $1.17 during mid-day trading on Thursday, reaching $71.40. 785,260 shares of the company were exchanged, compared to its average volume of 737,156. National Grid has a 52 week low of $54.24 and a 52 week high of $74.82. 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 stock has a market capitalization of $69.86 billion, a PE ratio of 13.73, a PEG ratio of 5.64 and a beta of 0.63. The business has a 50 day simple moving average of $69.91 and a two-hundred day simple moving average of $64.10.

National Grid Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Monday, July 28th. Investors of record on Friday, May 30th will be paid a dividend of $2.0345 per share. The ex-dividend date is Friday, May 30th. This represents a yield of 4.7%. National Grid's dividend payout ratio is currently 78.08%.

Institutional Investors Weigh In On National Grid

Several large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new stake in National Grid in the fourth quarter valued at approximately $166,000. Kingswood Wealth Advisors LLC acquired a new stake in National Grid in the fourth quarter valued at approximately $287,000. Blue Trust Inc. grew its stake in National Grid by 92.9% in the fourth quarter. Blue Trust Inc. now owns 9,774 shares of the utilities provider's stock valued at $581,000 after acquiring an additional 4,707 shares during the period. Pacer Advisors Inc. grew its stake in National Grid by 4.1% in the fourth quarter. Pacer Advisors Inc. now owns 8,620 shares of the utilities provider's stock valued at $512,000 after acquiring an additional 340 shares during the period. Finally, Optas LLC grew its stake in National Grid by 17.0% in the fourth quarter. Optas LLC now owns 7,866 shares of the utilities provider's stock valued at $467,000 after acquiring an additional 1,141 shares during the period. Institutional investors and hedge funds own 4.68% of the company's stock.

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.