National Grid (NYSE:NGG) Sets New 52-Week High - Should You Buy?

National Grid plc (NYSE:NGG - Get Free Report) shares reached a new 52-week high on Thursday . The company traded as high as $72.97 and last traded at $72.82, with a volume of 487509 shares changing hands. The stock had previously closed at $71.47.

Wall Street Analyst Weigh In

NGG has been the topic of several research reports. BNP Paribas upgraded National Grid from an "outperform" rating to a "strong-buy" rating in a report on Thursday, May 29th. BNP Paribas Exane assumed coverage on shares of National Grid in a report on Thursday, May 29th. They set an "outperform" rating and a $80.40 target price on the stock. Wall Street Zen downgraded shares of National Grid from a "hold" rating to a "sell" rating in a research note on Friday, May 16th. Royal Bank of Canada downgraded National Grid from an "outperform" rating to a "sector perform" rating in a report on Wednesday, May 28th. Finally, UBS Group downgraded National Grid from a "buy" rating to a "neutral" rating in a report on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, National Grid presently has a consensus rating of "Moderate Buy" and an average price target of $80.40.

National Grid Price Performance

The company has a debt-to-equity ratio of 1.18, a current ratio of 1.61 and a quick ratio of 1.54. The firm has a market capitalization of $71.37 billion, a PE ratio of 14.03, a P/E/G ratio of 5.64 and a beta of 0.63. The business's 50 day moving average is $70.99 and its two-hundred day moving average is $64.63.

National Grid Cuts Dividend

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

Institutional Trading of National Grid

Several large investors have recently modified their holdings of NGG. Oppenheimer & Co. Inc. lifted its stake in shares of National Grid by 24.2% in the 4th quarter. Oppenheimer & Co. Inc. now owns 4,455 shares of the utilities provider's stock valued at $265,000 after purchasing an additional 868 shares during the period. Atria Wealth Solutions Inc. purchased a new stake in shares of National Grid during the 4th quarter valued at about $239,000. Charles Schwab Investment Management Inc. grew its position in National Grid by 5.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 65,013 shares of the utilities provider's stock worth $3,863,000 after purchasing an additional 3,186 shares during the period. IFP Advisors Inc grew its holdings in shares of National Grid by 20.0% in the fourth quarter. IFP Advisors Inc now owns 1,043 shares of the utilities provider's stock worth $62,000 after acquiring an additional 174 shares during the period. Finally, Two Sigma Investments LP grew its stake in shares of National Grid by 8.9% during the 4th quarter. Two Sigma Investments LP now owns 5,100 shares of the utilities provider's stock valued at $303,000 after purchasing an additional 417 shares during the period. 4.68% of the stock is owned by institutional investors.

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.