National Grid plc (NGG) Given Equal Weight Rating at Barclays PLC

Barclays PLC reissued their equal weight rating on shares of National Grid plc (NYSE:NGG) in a research report sent to investors on Friday. Barclays PLC currently has a $69.00 price target on the utilities provider’s stock.

Several other brokerages also recently weighed in on NGG. Zacks Investment Research downgraded National Grid plc from a buy rating to a hold rating in a research report on Wednesday, February 15th. Societe Generale raised National Grid plc from a sell rating to a hold rating in a research report on Friday, March 17th. Berenberg Bank raised National Grid plc from a hold rating to a buy rating in a research report on Friday, January 20th. Royal Bank of Canada downgraded National Grid plc from an outperform rating to a sector perform rating in a research report on Thursday, May 4th. Finally, Investec raised National Grid plc from a hold rating to a buy rating in a research report on Friday, January 13th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $67.50.

National Grid plc (NYSE:NGG) opened at 68.26 on Friday. The company’s 50-day moving average price is $65.00 and its 200-day moving average price is $60.92. The stock has a market capitalization of $51.37 billion, a PE ratio of 19.56 and a beta of 0.43. National Grid plc has a one year low of $56.50 and a one year high of $74.97.

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The firm also recently declared a special dividend, which will be paid on Friday, June 2nd. Investors of record on Friday, May 19th will be issued a $5.4224 dividend. This represents a yield of 4.92%. The ex-dividend date is Wednesday, May 17th.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC increased its position in shares of National Grid plc by 20.4% in the fourth quarter. Renaissance Technologies LLC now owns 2,942,365 shares of the utilities provider’s stock worth $171,628,000 after buying an additional 497,865 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of National Grid plc by 18.4% in the first quarter. Wells Fargo & Company MN now owns 1,910,886 shares of the utilities provider’s stock worth $121,304,000 after buying an additional 296,460 shares in the last quarter. Miller Howard Investments Inc. NY increased its position in shares of National Grid plc by 814.6% in the first quarter. Miller Howard Investments Inc. NY now owns 1,248,874 shares of the utilities provider’s stock worth $79,279,000 after buying an additional 1,112,329 shares in the last quarter. Energy Income Partners LLC acquired a new position in shares of National Grid plc during the fourth quarter worth approximately $66,472,000. Finally, Macquarie Group Ltd. increased its position in shares of National Grid plc by 1.7% in the first quarter. Macquarie Group Ltd. now owns 1,132,742 shares of the utilities provider’s stock worth $71,906,000 after buying an additional 18,795 shares in the last quarter. 5.55% of the stock is owned by hedge funds and other institutional investors.

About National Grid plc

National Grid plc is an electricity and gas utility company focused on transmission and distribution activities in electricity and gas in both the United Kingdom and the United States. The Company’s segments include UK Electricity Transmission, which is engaged in high voltage electricity transmission networks in Great Britain; UK Gas Transmission, which is the gas transmission network in Great Britain and United Kingdom liquefied natural gas (LNG) storage activities; UK Gas Distribution, which includes approximately four of the eight regional networks of Great Britain’s gas distribution system, and US Regulated, which includes gas distribution networks, electricity distribution networks and high voltage electricity transmission networks in New York, and New England and electricity generation facilities in New York.

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