National Grid plc (NG) Earns “Sell” Rating from Deutsche Bank AG
National Grid plc (LON:NG)‘s stock had its “sell” rating reissued by stock analysts at Deutsche Bank AG in a research note issued to investors on Friday. They currently have a GBX 950 ($12.10) price objective on the stock. Deutsche Bank AG’s price objective suggests a potential downside of 5.00% from the stock’s previous close.
Several other research analysts have also issued reports on the stock. HSBC Holdings plc restated a “buy” rating and issued a GBX 1,060 ($13.50) price target on shares of National Grid plc in a research report on Thursday, April 13th. Credit Suisse Group restated an “underperform” rating and issued a GBX 850 ($10.83) price target on shares of National Grid plc in a research report on Tuesday, April 18th. J P Morgan Chase & Co restated an “overweight” rating and issued a GBX 1,100 ($14.01) price target on shares of National Grid plc in a research report on Friday, March 24th. Berenberg Bank lowered shares of National Grid plc to a “hold” rating and set a GBX 1,050 ($13.38) price target on the stock. in a research report on Thursday, May 11th. Finally, BNP Paribas upgraded shares of National Grid plc to a “neutral” rating and lifted their price target for the stock from GBX 830 ($10.57) to GBX 1,000 ($12.74) in a research report on Tuesday, March 21st. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of GBX 1,026.21 ($13.07).
Shares of National Grid plc (LON NG) opened at 1000.00 on Friday. National Grid plc has a 52 week low of GBX 888.90 and a 52 week high of GBX 1,148.00. The stock’s 50 day moving average price is GBX 1,075.86 and its 200 day moving average price is GBX 1,060.13. The stock’s market cap is GBX 34.41 billion.
The firm also recently declared a dividend, which will be paid on Wednesday, August 16th. Stockholders of record on Thursday, June 1st will be issued a dividend of GBX 29.10 ($0.37) per share. The ex-dividend date of this dividend is Thursday, June 1st. This represents a dividend yield of 2.74%.
In other news, insider Dean Seavers bought 4,574 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The shares were purchased at an average price of GBX 1,020 ($13.00) per share, for a total transaction of £46,654.80 ($59,440.44). Also, insider Andrew R. J. Bonfield sold 22,191 shares of National Grid plc stock in a transaction on Monday, June 19th. The stock was sold at an average price of GBX 1,021 ($13.01), for a total transaction of £226,570.11 ($288,661.12). Insiders have bought a total of 4,617 shares of company stock worth $4,709,713 in the last 90 days.
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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