National Grid plc (LON:NG) Stock Rating Reaffirmed by Credit Suisse Group
Credit Suisse Group reissued their underperform rating on shares of National Grid plc (LON:NG) in a report published on Friday morning, Marketbeat Ratings reports. The brokerage currently has a GBX 850 ($11.10) target price on the stock.
Several other equities research analysts also recently issued reports on the stock. HSBC Holdings plc restated a buy rating and set a GBX 1,060 ($13.84) price objective on shares of National Grid plc in a research report on Thursday, April 13th. Citigroup Inc. set a GBX 1,126 ($14.70) price objective on shares of National Grid plc and gave the stock a buy rating in a research report on Tuesday, June 20th. Deutsche Bank AG reiterated a sell rating and issued a GBX 950 ($12.41) price target on shares of National Grid plc in a research report on Wednesday, June 14th. J P Morgan Chase & Co reiterated an overweight rating and issued a GBX 1,100 ($14.36) price target on shares of National Grid plc in a research report on Friday, March 24th. Finally, Berenberg Bank downgraded shares of National Grid plc to a hold rating and set a GBX 1,050 ($13.71) price target for the company. in a research report on Thursday, May 11th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of GBX 1,014.80 ($13.25).
National Grid plc (NG) opened at 938.50 on Friday. National Grid plc has a 12-month low of GBX 888.90 and a 12-month high of GBX 1,127.34. The firm has a 50-day moving average price of GBX 980.44 and a 200 day moving average price of GBX 1,049.94. The firm’s market cap is GBX 32.29 billion.
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The business also recently announced a dividend, which will be paid on Wednesday, August 16th. Shareholders of record on Thursday, June 1st will be paid a dividend of GBX 29.10 ($0.38) per share. The ex-dividend date is Thursday, June 1st. This represents a dividend yield of 2.74%.
In other National Grid plc news, insider Andrew R. J. Bonfield sold 22,191 shares of the business’s stock in a transaction on Monday, June 19th. The shares were sold at an average price of GBX 1,021 ($13.33), for a total transaction of £226,570.11 ($295,860.68). Also, insider Dean Seavers bought 4,574 shares of the firm’s stock in a transaction on Thursday, June 15th. The shares were bought at an average cost of GBX 1,020 ($13.32) per share, for a total transaction of £46,654.80 ($60,922.96). In the last ninety days, insiders have acquired 4,616 shares of company stock worth $4,707,424.
About National Grid plc
National Grid plc is an electricity and gas utility company focused on transmission and distribution activities in electricity and gas in both the United Kingdom and the United States. The Company’s segments include UK Electricity Transmission, which is engaged in high voltage electricity transmission networks in Great Britain; UK Gas Transmission, which is the gas transmission network in Great Britain and United Kingdom liquefied natural gas (LNG) storage activities; UK Gas Distribution, which includes approximately four of the eight regional networks of Great Britain’s gas distribution system, and US Regulated, which includes gas distribution networks, electricity distribution networks and high voltage electricity transmission networks in New York, and New England and electricity generation facilities in New York.
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