National Grid plc Announces Semi-annual Dividend of $1.19 (NYSE:NGG)

National Grid plc (NYSE:NGG) announced a semi-annual dividend on Friday, November 10th, Wall Street Journal reports. Stockholders of record on Friday, November 24th will be given a dividend of 1.1899 per share by the utilities provider on Thursday, January 11th. This represents a dividend yield of 5.8%. The ex-dividend date is Wednesday, November 22nd.

National Grid has raised its dividend payment by an average of 0.3% annually over the last three years. National Grid has a payout ratio of 52.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect National Grid to earn $4.46 per share next year, which means the company should continue to be able to cover its $2.38 annual dividend with an expected future payout ratio of 53.4%.

National Grid Stock Up 1.2 %

NGG opened at $65.19 on Tuesday. National Grid has a one year low of $56.40 and a one year high of $74.48. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.82 and a current ratio of 0.93. The stock’s fifty day moving average is $61.16 and its 200-day moving average is $64.59. The company has a market capitalization of $48.08 billion, a PE ratio of 14.49, a P/E/G ratio of 4.79 and a beta of 0.69.

Wall Street Analysts Forecast Growth

NGG has been the topic of a number of research reports. StockNews.com began coverage on National Grid in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Barclays began coverage on National Grid in a research report on Thursday, September 28th. They set an “overweight” rating on the stock. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, National Grid has an average rating of “Moderate Buy” and an average price target of $1,176.25.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Fairfield Bush & CO. acquired a new position in National Grid during the first quarter valued at $36,000. Tower Research Capital LLC TRC raised its position in National Grid by 57.0% during the first quarter. Tower Research Capital LLC TRC now owns 661 shares of the utilities provider’s stock valued at $45,000 after buying an additional 240 shares during the period. Penserra Capital Management LLC raised its position in National Grid by 50.2% during the fourth quarter. Penserra Capital Management LLC now owns 910 shares of the utilities provider’s stock valued at $54,000 after buying an additional 304 shares during the period. AXA S.A. raised its position in National Grid by 41.0% during the first quarter. AXA S.A. now owns 888 shares of the utilities provider’s stock valued at $60,000 after buying an additional 258 shares during the period. Finally, Belpointe Asset Management LLC raised its position in National Grid by 57.0% during the first quarter. Belpointe Asset Management LLC now owns 1,005 shares of the utilities provider’s stock valued at $68,000 after buying an additional 365 shares during the period. 4.40% of the stock is owned by institutional investors and hedge funds.

About National Grid

National Grid plc transmits and distributes electricity and gas. The company operates through UK Electricity Transmission, UK Electricity Distribution, UK Electricity System Operator, New England, New York, National Grid Ventures, and Other segments. The UK Electricity Transmission segment provides electricity transmission and construction work services in England and Wales.