National Grid (NYSE:NGG) Shares Gap Down to $58.58

National Grid plc (NYSE:NGGGet Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $58.58, but opened at $57.06. National Grid shares last traded at $57.67, with a volume of 219,979 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. StockNews.com upgraded National Grid from a “sell” rating to a “hold” rating in a report on Wednesday, April 3rd. BNP Paribas upgraded National Grid from an “underperform” rating to an “outperform” rating in a report on Tuesday, April 2nd. Finally, Jefferies Financial Group upgraded National Grid from a “hold” rating to a “buy” rating in a report on Monday, February 5th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,050.00.

Get Our Latest Stock Analysis on NGG

National Grid Stock Performance

The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.41. The company has a 50-day moving average of $67.29 and a 200-day moving average of $66.99.

National Grid Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Friday, July 19th. Investors of record on Friday, June 7th will be given a dividend of $2.4939 per share. This is a boost from National Grid’s previous semi-annual dividend of $1.19. The ex-dividend date of this dividend is Friday, June 7th. This represents a dividend yield of 6%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. RFP Financial Group LLC boosted its position in National Grid by 119.8% in the first quarter. RFP Financial Group LLC now owns 367 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 200 shares during the last quarter. Headlands Technologies LLC purchased a new position in National Grid in the first quarter worth $27,000. Richardson Financial Services Inc. purchased a new position in National Grid in the first quarter worth $28,000. Bessemer Group Inc. purchased a new position in National Grid in the first quarter worth $29,000. Finally, Creekmur Asset Management LLC purchased a new position in National Grid in the fourth quarter worth $29,000. Hedge funds and other institutional investors own 4.68% of the company’s stock.

National Grid Company Profile

(Get Free Report)

National Grid plc transmits and distributes electricity and gas. The company 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.

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