Terna Rete Elettrica Nazionale (OTCMKTS:TEZNY) Trading Up 0.4% - Here's What Happened

Key Points

• Terna Rete Elettrica Nazionale shares increased by 0.4% to $29.64, with a significant decline in trading volume—47% lower than its average.
• The company announced a new dividend of $0.6325 per share, up from the previous $0.38, resulting in a high dividend yield of 282.0%.
• Morgan Stanley has maintained an "underweight" rating on Terna Rete Elettrica Nazionale, indicating a cautious outlook from analysts.

Terna Rete Elettrica Nazionale SpA Unsponsored ADR (OTCMKTS:TEZNY - Get Free Report) shares rose 0.4% during mid-day trading on Wednesday . The company traded as high as $29.72 and last traded at $29.64. Approximately 7,184 shares traded hands during trading, a decline of 47% from the average daily volume of 13,536 shares. The stock had previously closed at $29.51.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley reissued an "underweight" rating on shares of Terna Rete Elettrica Nazionale in a research report on Friday, May 16th.

Terna Rete Elettrica Nazionale Price Performance

The company's 50-day simple moving average is $30.11 and its 200-day simple moving average is $27.97.

Terna Rete Elettrica Nazionale Increases Dividend

The company also recently disclosed a dividend, which was paid on Thursday, July 10th. Shareholders of record on Wednesday, June 25th were given a $0.6325 dividend. This represents a yield of 282.0%. This is a positive change from Terna Rete Elettrica Nazionale's previous dividend of $0.38. The ex-dividend date of this dividend was Tuesday, June 24th.

Terna Rete Elettrica Nazionale Company Profile

Terna S.p.A., together with its subsidiaries, provides electricity transmission and dispatching services in Italy, other Euro-area countries, and internationally. It operates through Regulated, Non-Regulated, and International segments. The company is involved in the design, construction, management, development, operation, and maintenance of national transmission grid; dispatching and metering; and construction of storage systems.