National Grid plc (NYSE:NGG) declared a semi-annual dividend on Friday, June 19th, Wall Street Journal reports. Investors of record on Thursday, July 2nd will be given a dividend of 2.0126 per share by the utilities provider on Wednesday, August 19th. This represents a yield of 5.1%. The ex-dividend date is Wednesday, July 1st.
National Grid has a dividend payout ratio of 56.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect National Grid to earn $3.54 per share next year, which means the company should continue to be able to cover its $2.11 annual dividend with an expected future payout ratio of 59.6%.
NYSE:NGG opened at $60.04 on Tuesday. National Grid has a 12-month low of $44.29 and a 12-month high of $69.08. The firm has a market capitalization of $43.65 billion, a P/E ratio of 17.01, a P/E/G ratio of 5.91 and a beta of 0.42. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.70 and a quick ratio of 0.65. The business has a 50 day simple moving average of $57.57 and a 200 day simple moving average of $60.10.
NGG has been the subject of a number of analyst reports. Berenberg Bank lowered National Grid from a “buy” rating to a “hold” rating in a research report on Friday, March 27th. JPMorgan Chase & Co. restated an “overweight” rating on shares of National Grid in a research report on Friday, June 19th. UBS Group upgraded National Grid from a “neutral” rating to a “buy” rating in a research report on Tuesday, April 7th. HSBC upgraded National Grid from a “hold” rating to a “buy” rating in a research report on Thursday, March 19th. Finally, ValuEngine lowered National Grid from a “hold” rating to a “sell” rating in a research report on Thursday, June 4th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. National Grid currently has a consensus rating of “Hold” and an average price target of $65.00.
National Grid Company Profile
National Grid plc transmits and distributes electricity and natural gas. It operates through UK Electricity Transmission, UK Gas Transmission, US Regulated, and National Grid Ventures and Other Activities segments. The UK Electricity Transmission segment owns and operates electricity transmission networks, which comprise approximately 7,200 kilometers of overhead lines; 1,560 kilometers of underground cables; and 346 substations in England and Wales, as well as Scottish electricity transmission systems.
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