National Grid (NYSE:NGG) Upgraded at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of National Grid (NYSE:NGG) from a neutral rating to a buy rating in a research report sent to investors on Wednesday morning, MarketBeat.com reports.

Several other research analysts have also weighed in on NGG. Citigroup raised National Grid from a neutral rating to a buy rating in a research report on Monday, June 3rd. StockNews.com raised shares of National Grid from a sell rating to a hold rating in a research report on Wednesday, April 3rd. Finally, BNP Paribas raised shares of National Grid from an underperform rating to an outperform rating in a research note on Tuesday, April 2nd. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $1,050.00.

National Grid Stock Performance

Shares of NYSE NGG opened at $56.55 on Wednesday. National Grid has a 52-week low of $55.13 and a 52-week high of $73.40. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.84 and a current ratio of 0.91. The company’s 50 day moving average price is $64.80 and its 200-day moving average price is $66.43.

National Grid Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Friday, July 19th. Shareholders of record on Friday, June 7th will be issued a dividend of $2.4939 per share. This is a positive change from National Grid’s previous semi-annual dividend of $1.19. This represents a yield of 6%. The ex-dividend date of this dividend is Friday, June 7th.

Institutional Investors Weigh In On National Grid

Several institutional investors have recently bought and sold shares of the stock. Keynote Financial Services LLC bought a new stake in shares of National Grid in the 1st quarter worth $363,000. EverSource Wealth Advisors LLC increased its stake in National Grid by 27.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,141 shares of the utilities provider’s stock valued at $76,000 after buying an additional 247 shares during the last quarter. Pathway Financial Advisers LLC bought a new position in shares of National Grid during the 1st quarter worth approximately $53,000. Cetera Advisors LLC boosted its stake in shares of National Grid by 650.4% in the 1st quarter. Cetera Advisors LLC now owns 42,572 shares of the utilities provider’s stock worth $2,904,000 after buying an additional 36,899 shares during the last quarter. Finally, Cetera Investment Advisers grew its holdings in shares of National Grid by 87.9% in the first quarter. Cetera Investment Advisers now owns 90,133 shares of the utilities provider’s stock valued at $6,149,000 after acquiring an additional 42,172 shares in the last quarter. Institutional investors own 4.68% of the company’s stock.

National Grid Company Profile

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.