National Grid (LON:NG) Raised to “Buy” at UBS Group

UBS Group upgraded shares of National Grid (LON:NG) to a buy rating in a report published on Thursday, Stock Target Advisor reports. The brokerage currently has GBX 980 ($12.06) price objective on the stock, up from their previous price objective of GBX 960 ($11.81).

NG has been the subject of several other research reports. Royal Bank of Canada increased their target price on National Grid from GBX 1,025 ($12.61) to GBX 1,050 ($12.92) and gave the stock an outperform rating in a research report on Tuesday, June 23rd. Deutsche Bank raised National Grid to a buy rating and increased their target price for the stock from GBX 910 ($11.20) to GBX 940 ($11.57) in a research report on Friday, July 17th. Jefferies Financial Group raised National Grid to a buy rating and increased their target price for the stock from GBX 910 ($11.20) to GBX 1,060 ($13.04) in a research report on Monday, July 27th. Goldman Sachs Group decreased their target price on National Grid from GBX 1,000 ($12.31) to GBX 949 ($11.68) and set a neutral rating for the company in a research report on Wednesday, July 22nd. Finally, HSBC set a GBX 1,065 ($13.11) price target on National Grid and gave the stock a buy rating in a research note on Monday, April 27th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. National Grid presently has an average rating of Buy and an average target price of GBX 1,012 ($12.45).

NG opened at GBX 900.40 ($11.08) on Thursday. The business has a 50 day simple moving average of GBX 920.64 and a two-hundred day simple moving average of GBX 942.52. The firm has a market capitalization of $31.61 billion and a price-to-earnings ratio of 24.80. The company has a debt-to-equity ratio of 163.03, a current ratio of 0.68 and a quick ratio of 0.56. National Grid has a one year low of GBX 8.90 ($0.11) and a one year high of GBX 1,073.80 ($13.21).

The firm also recently announced a dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Thursday, July 2nd will be paid a dividend of GBX 32 ($0.39) per share. This represents a yield of 3.36%. This is an increase from National Grid’s previous dividend of $16.57. The ex-dividend date is Thursday, July 2nd. National Grid’s dividend payout ratio (DPR) is currently 134.99%.

In other National Grid news, insider Andrew Agg bought 15,794 shares of the business’s stock in a transaction on Wednesday, July 15th. The shares were acquired at an average cost of GBX 881 ($10.84) per share, for a total transaction of £139,145.14 ($171,234.48). Over the last quarter, insiders have acquired 15,837 shares of company stock worth $13,953,989.

National Grid Company Profile

National Grid plc transmits and distributes electricity and natural gas. It operates through UK Electricity Transmission, UK Gas Transmission, US Regulated, and National Grid Ventures and Other Activities segments. The UK Electricity Transmission segment owns and operates electricity transmission networks, which comprise approximately 7,200 kilometers of overhead lines; 1,560 kilometers of underground cables; and 346 substations in England and Wales, as well as Scottish electricity transmission systems.

Further Reading: How to use beta for portfolio diversification

Analyst Recommendations for National Grid (LON:NG)

Receive News & Ratings for National Grid Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National Grid and related companies with MarketBeat.com's FREE daily email newsletter.