National Grid PLC (NGG) Shares Gap Down to $72.96
National Grid PLC (NYSE:NGG) gapped down before the market opened on Monday . The stock had previously closed at $72.83, but opened at $72.96. National Grid PLC shares last traded at $73.74, with a volume of 360,947 shares trading hands.
A number of equities research analysts have commented on the company. Zacks Investment Research upgraded National Grid PLC from a “hold” rating to a “buy” rating and set a $83.00 target price on the stock in a report on Wednesday, June 1st. Deutsche Bank AG reiterated a “hold” rating on shares of National Grid PLC in a report on Tuesday, May 17th. Barclays PLC increased their target price on National Grid PLC from $74.00 to $80.00 and gave the company an “overweight” rating in a report on Thursday, May 19th. Macquarie cut National Grid PLC from a “neutral” rating to an “underperform” rating in a report on Thursday, May 5th. Finally, JPMorgan Chase & Co. upgraded National Grid PLC from a “neutral” rating to an “overweight” rating in a report on Wednesday, May 4th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $81.50.
The firm has a 50-day moving average of $72.08 and a 200 day moving average of $70.87. The stock has a market cap of $55.26 billion and a price-to-earnings ratio of 16.26.
The company also recently announced a dividend, which will be paid on Wednesday, August 10th. Shareholders of record on Friday, June 3rd will be issued a $2.024 dividend. The ex-dividend date is Wednesday, June 1st.
A number of large investors have recently bought and sold shares of the company. US Bancorp DE raised its stake in National Grid PLC by 17.5% in the fourth quarter. US Bancorp DE now owns 253,498 shares of the company’s stock valued at $17,628,000 after buying an additional 37,721 shares during the period. Comerica Bank raised its stake in shares of National Grid PLC by 3.9% in the fourth quarter. Comerica Bank now owns 53,735 shares of the company’s stock worth $3,673,000 after buying an additional 2,004 shares during the last quarter. Sei Investments Co. raised its stake in shares of National Grid PLC by 4.3% in the fourth quarter. Sei Investments Co. now owns 40,180 shares of the company’s stock worth $2,795,000 after buying an additional 1,667 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of National Grid PLC by 8.8% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 27,390 shares of the company’s stock worth $1,905,000 after buying an additional 2,208 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its stake in shares of National Grid PLC by 46.2% in the fourth quarter. Advisors Asset Management Inc. now owns 25,670 shares of the company’s stock worth $1,785,000 after buying an additional 8,111 shares during the last quarter.
National Grid Plc is an electricity and gas utility company. The UK Electricity Transmission includes high voltage electricity transmission networks in Great Britain. Its UK Gas Transmission provides the gas transmission network in Great Britain and UK liquefied natural gas (LNG) storage activities. The Company’s UK Gas Distribution includes four of the eight regional networks of Great Britain’s gas distribution system.
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