National Grid (NYSE:NGG) Upgraded by Citigroup to Buy Rating

Citigroup upgraded shares of National Grid (NYSE:NGG) from a neutral rating to a buy rating in a research report sent to investors on Tuesday, Marketbeat.com reports.

Separately, Deutsche Bank Aktiengesellschaft initiated coverage on National Grid in a research report on Wednesday, October 2nd. They set a “buy” rating for the company. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

National Grid Stock Up 1.1 %

NGG stock opened at $60.72 on Tuesday. The company has a current ratio of 1.61, a quick ratio of 1.54 and a debt-to-equity ratio of 1.18. National Grid has a 12 month low of $55.13 and a 12 month high of $73.40. The company’s 50 day simple moving average is $60.31 and its 200-day simple moving average is $63.75.

National Grid Dividend Announcement

The company also recently declared a semi-annual dividend, which was paid on Tuesday, January 14th. Stockholders 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 dividend yield of 4%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NGG. Moors & Cabot Inc. grew its position in shares of National Grid by 3.2% in the third quarter. Moors & Cabot Inc. now owns 5,600 shares of the utilities provider’s stock valued at $390,000 after purchasing an additional 175 shares during the period. Profund Advisors LLC boosted its stake in National Grid by 3.0% in the 2nd quarter. Profund Advisors LLC now owns 7,003 shares of the utilities provider’s stock worth $398,000 after buying an additional 203 shares during the last quarter. Carr Financial Group Corp grew its holdings in National Grid by 3.9% in the 3rd quarter. Carr Financial Group Corp now owns 5,416 shares of the utilities provider’s stock valued at $377,000 after buying an additional 205 shares during the period. Concord Wealth Partners increased its stake in shares of National Grid by 11.2% during the 3rd quarter. Concord Wealth Partners now owns 2,053 shares of the utilities provider’s stock valued at $143,000 after acquiring an additional 206 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of National Grid by 22.3% during the 4th quarter. GAMMA Investing LLC now owns 1,229 shares of the utilities provider’s stock worth $73,000 after acquiring an additional 224 shares during the period. 4.68% of the stock is currently owned by institutional investors and hedge funds.

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.