JPMorgan Chase & Co. Trims National Grid (LON:NG) Target Price to GBX 1,200

National Grid (LON:NG) had its price objective decreased by JPMorgan Chase & Co. from GBX 1,275 ($16.13) to GBX 1,200 ($15.18) in a research note released on Tuesday morning, Marketbeat.com reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other research analysts also recently issued reports about the stock. Royal Bank of Canada restated an outperform rating and issued a GBX 1,125 ($14.23) price target on shares of National Grid in a research report on Tuesday, June 25th. Jefferies Financial Group restated a buy rating and issued a GBX 1,330 ($16.82) price target on shares of National Grid in a research report on Friday, April 19th.

National Grid Price Performance

Shares of NG stock opened at GBX 922.60 ($11.67) on Tuesday. The firm has a market cap of £44.38 billion, a P/E ratio of 1,520.33, a P/E/G ratio of 2.78 and a beta of 0.29. The company has a debt-to-equity ratio of 161.24, a current ratio of 0.91 and a quick ratio of 0.34. National Grid has a 1-year low of GBX 889.40 ($11.25) and a 1-year high of GBX 1,145.50 ($14.49). The firm has a fifty day moving average of GBX 970.86 and a two-hundred day moving average of GBX 1,019.25.

National Grid Increases Dividend

The business also recently declared a dividend, which will be paid on Friday, July 19th. Shareholders of record on Thursday, June 6th will be given a dividend of GBX 39.12 ($0.49) per share. This represents a dividend yield of 3.47%. This is an increase from National Grid’s previous dividend of $19.40. The ex-dividend date of this dividend is Thursday, June 6th. National Grid’s payout ratio is 9,833.33%.

National Grid Company Profile

National Grid plc transmits and distributes electricity and gas. It 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.