National Grid plc (NG) Downgraded by HSBC Holdings plc
National Grid plc (LON:NG) was downgraded by investment analysts at HSBC Holdings plc to a “hold” rating in a note issued to investors on Thursday, MarketBeat reports. They presently have a GBX 1,050 ($13.38) price target on the stock, down from their prior price target of GBX 1,060 ($13.50). HSBC Holdings plc’s target price points to a potential upside of 5.00% from the stock’s current price.
A number of other research firms have also recently commented on NG. Barclays PLC set a GBX 1,075 ($13.70) price target on National Grid plc and gave the stock a “neutral” rating in a report on Monday, May 29th. Morgan Stanley set a GBX 1,125 ($14.33) price target on National Grid plc and gave the stock a “buy” rating in a report on Monday, May 29th. Goldman Sachs Group, Inc. (The) reiterated a “sell” rating and set a GBX 946 ($12.05) price target on shares of National Grid plc in a report on Thursday, May 25th. Deutsche Bank AG set a GBX 920 ($11.72) price target on National Grid plc and gave the stock a “neutral” rating in a report on Saturday, May 20th. Finally, J P Morgan Chase & Co reiterated an “overweight” rating and set a GBX 1,100 ($14.01) price target on shares of National Grid plc in a report on Friday, May 19th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. National Grid plc presently has a consensus rating of “Hold” and a consensus price target of GBX 1,026.21 ($13.07).
National Grid plc (LON NG) traded down 0.10% during trading on Thursday, hitting GBX 1000.00. The company had a trading volume of 4,344,890 shares. The stock’s market capitalization is GBX 34.41 billion. National Grid plc has a one year low of GBX 888.90 and a one year high of GBX 1,148.00. The stock has a 50-day moving average of GBX 1,075.86 and a 200-day moving average of GBX 1,060.13.
The company also recently disclosed 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. This represents a dividend yield of 2.74%. The ex-dividend date is Thursday, June 1st.
In other news, insider Dean Seavers acquired 4,574 shares of National Grid plc stock in a transaction dated Thursday, June 15th. The stock was bought 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 the business’s stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of GBX 1,021 ($13.01), for a total value of £226,570.11 ($288,661.12). In the last 90 days, insiders have bought 4,617 shares of company stock valued at $4,709,713.
National Grid plc Company Profile
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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