Berenberg Bank Trims National Grid (NYSE:NGG) Target Price to GBX 1,100

National Grid (NYSE:NGG – Get Rating) had its target price reduced by Berenberg Bank from GBX 1,210 ($14.98) to GBX 1,100 ($13.62) in a research report released on Monday morning, The Fly reports.

Several other research firms have also weighed in on NGG. Citigroup raised National Grid from a sell rating to a neutral rating in a research report on Tuesday, October 4th. Morgan Stanley raised National Grid from an equal weight rating to an overweight rating in a research report on Friday, January 6th. JPMorgan Chase & Co. assumed coverage on National Grid in a research report on Tuesday, November 8th. They issued an overweight rating for the company. StockNews.com raised National Grid from a hold rating to a buy rating in a research report on Wednesday, November 16th. Finally, Credit Suisse Group decreased their target price on National Grid from GBX 1,225 ($15.17) to GBX 1,150 ($14.24) in a research report on Friday, October 28th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $1,106.67.

National Grid Stock Performance

NGG stock opened at $63.88 on Monday. The stock has a 50-day moving average price of $61.78 and a 200-day moving average price of $61.22. National Grid has a 1-year low of $47.22 and a 1-year high of $80.20. The company has a current ratio of 0.71, a quick ratio of 0.66 and a debt-to-equity ratio of 1.52. The firm has a market cap of $46.97 billion, a PE ratio of 13.92, a price-to-earnings-growth ratio of 3.01 and a beta of 0.61.

National Grid Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Wednesday, January 11th. Shareholders of record on Friday, November 25th were issued a dividend of $2.0929 per share. This is a positive change from National Grid’s previous semi-annual dividend of $1.16. This represents a yield of 7.1%. The ex-dividend date was Wednesday, November 23rd. National Grid’s payout ratio is currently 44.44%.

Institutional Trading of National Grid

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ACG Wealth bought a new stake in National Grid during the 2nd quarter worth approximately $25,000. Retirement Financial Solutions LLC purchased a new position in shares of National Grid in the 4th quarter worth approximately $26,000. Guardian Wealth Advisors LLC purchased a new position in shares of National Grid in the 3rd quarter worth approximately $27,000. AXA S.A. purchased a new position in shares of National Grid in the 3rd quarter worth approximately $27,000. Finally, EWG Elevate Inc. purchased a new position in shares of National Grid in the 4th quarter worth approximately $30,000. 3.49% of the stock is owned by institutional investors.

About National Grid

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National Grid plc transmits and distributes electricity and gas. The company operates through UK Electricity Transmission, UK Electricity Distribution, UK Electricity System Operator, New England, and New York segments. The UK Electricity Transmission segment provides electricity transmission and construction work services in England and Wales.