Royal Bank of Canada Reiterates GBX 1,000 Price Target for National Grid (LON:NG)

Royal Bank of Canada set a GBX 1,000 ($13.07) price objective on National Grid (LON:NG) in a research note issued to investors on Thursday, Borsen Zeitung reports. The brokerage currently has a buy rating on the stock.

NG has been the subject of several other research reports. Morgan Stanley reaffirmed an overweight rating on shares of National Grid in a research note on Monday, November 11th. UBS Group set a GBX 840 ($10.98) target price on National Grid and gave the stock a neutral rating in a research note on Thursday. Barclays reaffirmed an overweight rating on shares of National Grid in a research note on Thursday. JPMorgan Chase & Co. reaffirmed an overweight rating on shares of National Grid in a research note on Wednesday, October 16th. Finally, Credit Suisse Group set a GBX 970 ($12.67) price objective on National Grid and gave the company a buy rating in a research report on Thursday, October 17th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of GBX 934.77 ($12.21).

NG traded up GBX 11.70 ($0.15) during midday trading on Thursday, hitting GBX 906.80 ($11.85). The stock had a trading volume of 5,062,120 shares, compared to its average volume of 10,850,000. The company has a market cap of $31.16 billion and a P/E ratio of 20.38. The business has a fifty day moving average of GBX 891.39 and a 200 day moving average of GBX 850.85. The company has a debt-to-equity ratio of 153.93, a quick ratio of 0.58 and a current ratio of 0.87. National Grid has a 1 year low of GBX 8.90 ($0.12) and a 1 year high of GBX 926.70 ($12.11).

The business also recently disclosed a dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, November 28th will be given a GBX 16.57 ($0.22) dividend. The ex-dividend date of this dividend is Thursday, November 28th. This represents a yield of 1.85%. National Grid’s payout ratio is currently 1.06%.

National Grid Company Profile

National Grid plc transmits and distributes electricity and natural gas. It operates through UK Electricity Transmission, UK Gas Transmission, US Regulated, and National Grid Ventures and Other Activities segments. The UK Electricity Transmission segment owns and operates electricity transmission networks, which comprise approximately 7,200 kilometers of overhead lines; 1,560 kilometers of underground cables; and 346 substations in England and Wales, as well as Scottish electricity transmission systems.

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