National Grid PLC (NYSE:NGG) gapped up before the market opened on Thursday . The stock had previously closed at $70.74, but opened at $71.12. National Grid PLC shares last traded at $71.65, with a volume of 295,074 shares.

NGG has been the topic of several recent research reports. JPMorgan Chase & Co. upgraded National Grid PLC from a “neutral” rating to an “overweight” rating in a report on Wednesday, May 4th. Macquarie downgraded National Grid PLC from a “neutral” rating to an “underperform” rating in a report on Thursday, May 5th. Deutsche Bank AG restated a “hold” rating on shares of National Grid PLC in a report on Tuesday, May 17th. Barclays PLC upped their price target on National Grid PLC from $74.00 to $80.00 and gave the stock an “overweight” rating in a report on Thursday, May 19th. Finally, Beaufort Securities restated a “buy” rating on shares of National Grid PLC in a report on Friday, May 20th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $81.50.

The stock’s 50 day moving average price is $72.42 and its 200 day moving average price is $71.20. The stock has a market capitalization of $53.66 billion and a PE ratio of 15.69.

The business also recently declared a dividend, which was paid on Wednesday, August 10th. Stockholders of record on Friday, June 3rd were paid a dividend of $2.024 per share. The ex-dividend date was Wednesday, June 1st.

Several hedge funds recently added to or reduced their stakes in the stock. Eaton Vance Management boosted its position in shares of National Grid PLC by 2.0% in the fourth quarter. Eaton Vance Management now owns 15,353 shares of the company’s stock worth $1,068,000 after buying an additional 294 shares during the last quarter. Advisors Asset Management Inc. boosted its position 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. US Bancorp DE boosted its position in shares of National Grid PLC by 17.5% in the fourth quarter. US Bancorp DE now owns 253,498 shares of the company’s stock worth $17,628,000 after buying an additional 37,721 shares during the last quarter. Finally, Venturi Wealth Management LLC acquired a new position in shares of National Grid PLC during the fourth quarter worth about $1,728,000.

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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