National Grid (NYSE:NGG) Sees Unusually-High Trading Volume - Here's Why

National Grid plc (NYSE:NGG - Get Free Report) saw strong trading volume on Wednesday . 1,282,481 shares traded hands during trading, an increase of 73% from the previous session's volume of 740,513 shares.The stock last traded at $71.31 and had previously closed at $71.33.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. BNP Paribas Exane assumed coverage on National Grid in a report on Thursday, May 29th. They set an "outperform" rating and a $80.40 target price for the company. Wall Street Zen cut National Grid from a "hold" rating to a "sell" rating in a report on Friday, May 16th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of National Grid in a report on Wednesday, May 21st. Barclays restated an "overweight" rating on shares of National Grid in a report on Friday, May 16th. Finally, UBS Group cut National Grid from a "buy" rating to a "neutral" rating in a report on Tuesday, April 29th. One analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $80.40.

National Grid Stock Performance

The stock has a 50-day simple moving average of $70.34 and a 200-day simple moving average of $64.29. The company has a market capitalization of $69.42 billion, a price-to-earnings ratio of 13.64, a price-to-earnings-growth ratio of 5.64 and a beta of 0.63. The company has a current ratio of 1.61, a quick ratio of 1.54 and a debt-to-equity ratio of 1.18.

National Grid Cuts Dividend

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

Institutional Investors Weigh In On National Grid

Institutional investors and hedge funds have recently made changes to their positions in the company. Whipplewood Advisors LLC acquired a new stake in shares of National Grid during the 4th quarter valued at approximately $25,000. Golden State Wealth Management LLC acquired a new stake in shares of National Grid during the 1st quarter valued at approximately $28,000. SJS Investment Consulting Inc. acquired a new stake in shares of National Grid during the 1st quarter valued at approximately $29,000. Brown Brothers Harriman & Co. grew its stake in National Grid by 67.6% during the 4th quarter. Brown Brothers Harriman & Co. now owns 491 shares of the utilities provider's stock worth $29,000 after buying an additional 198 shares during the last quarter. Finally, Capital Analysts LLC grew its stake in National Grid by 33.6% during the 1st quarter. Capital Analysts LLC now owns 640 shares of the utilities provider's stock worth $42,000 after buying an additional 161 shares during the last quarter. 4.68% of the stock is owned by institutional investors and hedge funds.

About National Grid

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.