Red Eléctrica Corporación (OTCMKTS:RDEIY) Downgraded by Royal Bank of Canada to Sector Perform

Royal Bank of Canada downgraded shares of Red Eléctrica Corporación (OTCMKTS:RDEIY – Get Rating) from an outperform rating to a sector perform rating in a research report released on Tuesday, The Fly reports.

A number of other brokerages also recently commented on RDEIY. JPMorgan Chase & Co. downgraded Red Eléctrica Corporación from a neutral rating to an underweight rating in a research report on Friday, December 16th. Grupo Santander upgraded Red Eléctrica Corporación from a neutral rating to an outperform rating and set a €18.64 ($20.04) price target for the company in a research note on Friday, November 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Red Eléctrica Corporación currently has a consensus rating of Hold and a consensus price target of $18.35.

Red Eléctrica Corporación Trading Up 0.5 %

Shares of OTCMKTS:RDEIY opened at $8.40 on Tuesday. The firm’s 50-day moving average is $8.64 and its two-hundred day moving average is $8.54. Red Eléctrica Corporación has a 1 year low of $7.03 and a 1 year high of $10.64.

Red Eléctrica Corporación Cuts Dividend

The firm also recently announced a dividend, which was paid on Tuesday, January 24th. Investors of record on Friday, January 6th were given a dividend of $0.1035 per share. The ex-dividend date of this dividend was Thursday, January 5th. This represents a yield of 4.19%.

About Red Eléctrica Corporación

(Get Rating)

Red Eléctrica Corp. SA engages in the power transmission and operation of electrical systems. It also offers telecommunication services and other related activities. The company was founded on January 29, 1985 and is headquartered in Alcobendas, Spain.