National Grid (NYSE:NGG) Shares Gap Down – Should You Sell?

National Grid plc (NYSE:NGG)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $74.70, but opened at $72.92. National Grid shares last traded at $72.81, with a volume of 213,740 shares traded.

Analyst Upgrades and Downgrades

NGG has been the topic of several recent research reports. Sanford C. Bernstein raised National Grid from a “market perform” rating to an “outperform” rating in a report on Monday, March 17th. Wall Street Zen downgraded National Grid from a “hold” rating to a “sell” rating in a report on Friday, May 16th. BNP Paribas Exane assumed coverage on National Grid in a research note on Thursday. They set an “outperform” rating and a $80.40 price target on the stock. Royal Bank of Canada downgraded shares of National Grid from an “outperform” rating to a “sector perform” rating in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of National Grid in a report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $80.40.

National Grid Trading Down 0.1%

The company has a market capitalization of $71.00 billion, a P/E ratio of 13.95, a P/E/G ratio of 5.64 and a beta of 0.63. The stock has a 50 day moving average of $69.75 and a 200-day moving average of $64.04. The company has a current ratio of 1.61, a quick ratio of 1.54 and a debt-to-equity ratio of 1.18.

National Grid Cuts Dividend

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

Hedge Funds Weigh In On National Grid

Institutional investors have recently modified their holdings of the stock. Mayflower Financial Advisors LLC boosted its holdings in National Grid by 4.0% in the 1st quarter. Mayflower Financial Advisors LLC now owns 3,649 shares of the utilities provider’s stock valued at $239,000 after purchasing an additional 140 shares during the last quarter. First Horizon Advisors Inc. lifted its position in 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 last quarter. Sage Rhino Capital LLC boosted its stake in National Grid by 3.6% during the first quarter. Sage Rhino Capital LLC now owns 4,524 shares of the utilities provider’s stock worth $297,000 after buying an additional 156 shares during the period. Capital Analysts LLC increased its position in shares of National Grid by 33.6% during the first quarter. Capital Analysts LLC now owns 640 shares of the utilities provider’s stock valued at $42,000 after acquiring an additional 161 shares during the last quarter. Finally, Gradient Investments LLC raised its stake in shares of National Grid by 2.0% in the 1st quarter. Gradient Investments LLC now owns 8,156 shares of the utilities provider’s stock valued at $535,000 after acquiring an additional 163 shares during the period. Hedge funds and other institutional investors own 4.68% of the company’s stock.

National Grid Company Profile

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.