National Grid plc Rating Reiterated by Citigroup Inc. (NGG)
National Grid plc (NYSE:NGG) traded down 1.06% on Tuesday, hitting $73.56. 422,898 shares of the company’s stock traded hands. National Grid plc has a 1-year low of $55.19 and a 1-year high of $75.09. The stock’s 50-day moving average is $73.11 and its 200-day moving average is $68.3. The company has a market cap of $54.881 billion and a P/E ratio of 13.21. National Grid plc also was the recipient of a significant increase in short interest in the month of June. As of June 13th, there was short interest totalling 2,079,512 shares, an increase of 66.2% from the May 30th total of 1,251,409 shares. Based on an average daily volume of 571,443 shares, the days-to-cover ratio is presently 3.6 days. Currently, 0.0% of the company’s shares are sold short.
The company also recently announced a semiannual dividend, which is scheduled for Wednesday, August 20th. Investors of record on Friday, June 6th will be paid a dividend of $2.3107 per share. This represents a dividend yield of 4.29%. The ex-dividend date is Wednesday, June 4th.
NGG has been the subject of a number of other recent research reports. Analysts at Credit Suisse reiterated an “outperform” rating on shares of National Grid plc in a research note on Thursday, June 19th. Separately, analysts at Berenberg Bank reiterated a “hold” rating on shares of National Grid plc in a research note on Wednesday, June 4th. Finally, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of National Grid plc in a research note on Tuesday, June 3rd. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. National Grid plc currently has a consensus rating of “Hold” and a consensus target price of $74.35.
National Grid Plc is an electricity and gas utility company. The Company operates in three segments: UK Transmission, UK Gas Distribution and US Regulated.
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