National Grid (NG) Price Target Cut to GBX 1,040 by Analysts at J P Morgan Chase & Co

National Grid (LON:NG) had its price target cut by J P Morgan Chase & Co from GBX 1,060 ($14.27) to GBX 1,040 ($14.00) in a report released on Wednesday. They currently have an overweight rating on the stock.

A number of other analysts have also issued reports on NG. Barclays set a GBX 990 ($13.32) price target on National Grid and gave the company a neutral rating in a report on Thursday, November 2nd. Deutsche Bank reiterated a sell rating and issued a GBX 900 ($12.11) price target on shares of National Grid in a report on Monday, October 30th. Credit Suisse Group reiterated an underperform rating and issued a GBX 860 ($11.57) price target on shares of National Grid in a report on Thursday, November 2nd. reiterated a buy rating and issued a GBX 1,060 ($14.27) price target on shares of National Grid in a report on Monday, October 9th. Finally, Macquarie reiterated a neutral rating and issued a GBX 975 ($13.12) price target on shares of National Grid in a report on Thursday, October 26th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the stock. The company has an average rating of Hold and an average target price of GBX 995.71 ($13.40).

National Grid (NG) traded down GBX 7.38 ($0.10) on Wednesday, hitting GBX 875.80 ($11.79). The stock had a trading volume of 6,163,468 shares, compared to its average volume of 9,710,000. National Grid has a 1 year low of GBX 859.30 ($11.57) and a 1 year high of GBX 1,097 ($14.76).

The company also recently announced a dividend, which will be paid on Wednesday, January 10th. Investors of record on Thursday, November 23rd will be given a GBX 15.49 ($0.21) dividend. This represents a dividend yield of 1.73%. The ex-dividend date of this dividend is Thursday, November 23rd.

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About National Grid

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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