National Grid plc (NYSE:NGG) Receives $80.40 Average Price Target from Analysts

National Grid plc (NYSE:NGG - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the nine ratings firms that are currently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $80.40.

A number of equities analysts have weighed in on NGG shares. BNP Paribas started coverage on National Grid in a research report on Thursday. They set an "outperform" rating on the stock. UBS Group downgraded National Grid from a "buy" rating to a "neutral" rating in a research report on Tuesday, April 29th. Wall Street Zen downgraded National Grid from a "hold" rating to a "sell" rating in a research report on Friday, May 16th. Citigroup reissued a "neutral" rating on shares of National Grid in a research report on Tuesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of National Grid in a research report on Wednesday, May 21st.

National Grid Stock Performance

NYSE NGG traded down $0.28 during trading on Friday, reaching $72.39. 530,555 shares of the company's stock were exchanged, compared to its average volume of 865,593. The business has a 50 day moving average price of $69.55 and a 200-day moving average price of $63.99. The stock has a market capitalization of $70.83 billion, a P/E ratio of 13.93, a PEG ratio of 5.64 and a beta of 0.63. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.61 and a quick ratio of 1.54. National Grid has a fifty-two week low of $55.13 and a fifty-two week high of $74.82.

National Grid Cuts Dividend

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

Institutional Investors Weigh In On National Grid

A number of institutional investors have recently made changes to their positions in the company. Mayflower Financial Advisors LLC boosted its holdings in shares of National Grid by 4.0% during the first quarter. Mayflower Financial Advisors LLC now owns 3,649 shares of the utilities provider's stock worth $239,000 after acquiring an additional 140 shares during the period. First Horizon Advisors Inc. boosted its stake in shares of National Grid by 13.9% in the first quarter. First Horizon Advisors Inc. now owns 1,227 shares of the utilities provider's stock valued at $81,000 after buying an additional 150 shares during the period. Sage Rhino Capital LLC boosted its stake in shares of National Grid by 3.6% in the first quarter. Sage Rhino Capital LLC now owns 4,524 shares of the utilities provider's stock valued at $297,000 after buying an additional 156 shares during the period. Capital Analysts LLC boosted its stake in shares of National Grid by 33.6% in the first quarter. Capital Analysts LLC now owns 640 shares of the utilities provider's stock valued at $42,000 after buying an additional 161 shares during the period. Finally, Gradient Investments LLC boosted its stake in shares of National Grid by 2.0% in the first quarter. Gradient Investments LLC now owns 8,156 shares of the utilities provider's stock valued at $535,000 after buying an additional 163 shares during the period. Institutional investors own 4.68% of the company's stock.

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.