National Grid (NYSE:NGG) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of National Grid (NYSE:NGG) from a buy rating to a hold rating in a research report released on Wednesday morning, Zacks.com reports.

According to Zacks, “NATIONAL GRID -ADR is an international energy delivery business, whose principal activities are in the regulated electricity and gas industries. They own and operate the high-voltage electricity transmission network in England and Wales, and Britain’s natural gas transportation system. In the US they are one of the top ten electricity companies, with the largest electricity transmission and distribution network in the New England/New York region. “

Other equities research analysts also recently issued research reports about the stock. Morgan Stanley reaffirmed an overweight rating on shares of National Grid in a research report on Wednesday, June 23rd. Credit Suisse Group reaffirmed an outperform rating on shares of National Grid in a research report on Friday, May 28th. Deutsche Bank Aktiengesellschaft restated a buy rating on shares of National Grid in a research report on Tuesday, June 22nd. UBS Group restated a buy rating on shares of National Grid in a research report on Wednesday, May 26th. Finally, Royal Bank of Canada restated an outperform rating on shares of National Grid in a research report on Monday, June 28th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. The company has a consensus rating of Buy and an average target price of $72.00.

Shares of NYSE:NGG opened at $63.36 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 1.38. National Grid has a fifty-two week low of $53.09 and a fifty-two week high of $68.49. The firm’s 50-day simple moving average is $65.41.

The company also recently announced a semi-annual dividend, which will be paid on Wednesday, August 18th. Shareholders of record on Friday, June 4th will be given a $2.2812 dividend. This is a boost from National Grid’s previous semi-annual dividend of $1.13. The ex-dividend date of this dividend is Thursday, June 3rd. This represents a yield of 8%. National Grid’s dividend payout ratio is 127.32%.

Several institutional investors have recently bought and sold shares of the company. Eudaimonia Partners LLC boosted its holdings in shares of National Grid by 32.2% in the first quarter. Eudaimonia Partners LLC now owns 632 shares of the utilities provider’s stock valued at $37,000 after acquiring an additional 154 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in shares of National Grid by 2.6% in the first quarter. Lazard Asset Management LLC now owns 6,714 shares of the utilities provider’s stock valued at $397,000 after acquiring an additional 167 shares in the last quarter. Elevated Capital Advisors LLC boosted its holdings in shares of National Grid by 1.3% in the first quarter. Elevated Capital Advisors LLC now owns 13,643 shares of the utilities provider’s stock valued at $865,000 after acquiring an additional 173 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of National Grid by 10.8% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,903 shares of the utilities provider’s stock valued at $113,000 after acquiring an additional 186 shares in the last quarter. Finally, AdvisorNet Financial Inc boosted its holdings in shares of National Grid by 6.6% in the first quarter. AdvisorNet Financial Inc now owns 3,281 shares of the utilities provider’s stock valued at $194,000 after acquiring an additional 204 shares in the last quarter. Institutional investors and hedge funds own 4.00% of the company’s stock.

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 (NGV) and Other segments. The UK Electricity Transmission segment owns and operates electricity transmission networks, which comprise approximately 7,236 kilometers of overhead lines.

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