National Grid plc’s Outperform Rating Reaffirmed at RBC Capital (NGG)
National Grid plc (NYSE:NGG) traded down 0.61% on Friday, hitting $73.65. The stock had a trading volume of 442,203 shares. National Grid plc has a 52 week low of $55.30 and a 52 week high of $75.09. The stock’s 50-day moving average is $73.30 and its 200-day moving average is $68.49. The company has a market cap of $54.948 billion and a price-to-earnings ratio of 13.16. National Grid plc also was the recipient of a large increase in short interest during 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. Approximately 0.0% of the company’s stock are sold short. Based on an average trading volume of 571,443 shares, the days-to-cover ratio is currently 3.6 days.
The company also recently declared a semiannual dividend, which is scheduled for Wednesday, August 20th. Stockholders 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.
Several other analysts have also recently commented on the stock. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of National Grid plc in a research note on Tuesday. Separately, analysts at Credit Suisse reiterated an “outperform” rating on shares of National Grid plc in a research note on Thursday, June 19th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target 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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