National Grid (NYSE:NGG) Upgraded at Citigroup

Citigroup upgraded shares of National Grid (NYSE:NGG) from a neutral rating to a buy rating in a research note released on Tuesday, MarketBeat reports.

Separately, Deutsche Bank Aktiengesellschaft initiated coverage on shares of National Grid in a research report on Wednesday, October 2nd. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy”.

National Grid Trading Up 1.1 %

NGG stock opened at $60.72 on Tuesday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.61 and a quick ratio of 1.54. National Grid has a twelve month low of $55.13 and a twelve month high of $73.40. The company’s 50 day moving average is $60.31 and its two-hundred day moving average is $63.75.

National Grid Announces Dividend

The company also recently declared a semi-annual dividend, which was paid on Tuesday, January 14th. Investors of record on Friday, November 22nd were issued a dividend of $2.4939 per share. The ex-dividend date of this dividend was Friday, November 22nd. This represents a yield of 4%.

Institutional Investors Weigh In On National Grid

A number of institutional investors have recently added to or reduced their stakes in the business. FMR LLC grew its position in National Grid by 77.3% during the third quarter. FMR LLC now owns 3,989,726 shares of the utilities provider’s stock worth $277,964,000 after buying an additional 1,739,566 shares during the period. Merewether Investment Management LP purchased a new stake in shares of National Grid during the 3rd quarter worth approximately $66,535,000. Ausbil Investment Management Ltd purchased a new stake in shares of National Grid during the 3rd quarter worth approximately $62,421,000. Mediolanum International Funds Ltd acquired a new stake in shares of National Grid in the 3rd quarter worth approximately $38,021,000. Finally, Marshall Wace LLP acquired a new position in National Grid during the second quarter worth $29,097,000. Hedge funds and other institutional investors own 4.68% of the company’s stock.

About National Grid

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.