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 changing hands.

A number of brokerages have issued reports on NGG. JPMorgan Chase & Co. raised shares of National Grid PLC from a “neutral” rating to an “overweight” rating in a report on Wednesday, May 4th. Macquarie lowered shares of National Grid PLC from a “neutral” rating to an “underperform” rating in a report on Thursday, May 5th. Beaufort Securities reissued a “buy” rating on shares of National Grid PLC in a report on Friday, May 20th. Zacks Investment Research raised shares of National Grid PLC from a “hold” rating to a “buy” rating and set a $83.00 target price for the company in a report on Wednesday, June 1st. Finally, Barclays PLC raised their target price on shares of National Grid PLC from $74.00 to $80.00 and gave the company an “overweight” rating in a report on Thursday, May 19th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $81.50.

The company has a market capitalization of $53.57 billion and a P/E ratio of 15.85. The stock has a 50 day moving average price of $72.37 and a 200 day moving average price of $71.23.

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

Several hedge funds and institutional investors have made changes to their positions in NGG. Eaton Vance Management increased 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 valued at $1,068,000 after buying an additional 294 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in shares of National Grid PLC during the fourth quarter valued at $1,728,000. Advisors Asset Management Inc. increased 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 valued at $1,785,000 after buying an additional 8,111 shares during the last quarter. Finally, US Bancorp DE increased 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 valued at $17,628,000 after buying an additional 37,721 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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