National Grid plc (LON:NG) had its price target lifted by research analysts at Morgan Stanley from GBX 1,100 ($14.01) to GBX 1,125 ($14.33) in a research report issued on Tuesday, May 23rd, MarketBeat.com reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 10.51% from the company’s previous close.
A number of other equities analysts have also commented on the stock. HSBC Holdings plc reiterated a “buy” rating and issued a GBX 1,060 ($13.50) price objective on shares of National Grid plc in a report on Thursday, April 13th. Credit Suisse Group reiterated an “underperform” rating and issued a GBX 850 ($10.83) price objective on shares of National Grid plc in a report on Tuesday, April 18th. J P Morgan Chase & Co restated an “overweight” rating and issued a GBX 1,100 ($14.01) target price on shares of National Grid plc in a research note on Friday, March 24th. Berenberg Bank lowered shares of National Grid plc to a “hold” rating and set a GBX 1,050 ($13.38) target price on the stock. in a research note on Thursday, May 11th. Finally, BNP Paribas upgraded shares of National Grid plc to a “neutral” rating and upped their target price for the company from GBX 830 ($10.57) to GBX 1,000 ($12.74) in a research note on Tuesday, March 21st. Three analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of GBX 1,026.93 ($13.08).
Shares of National Grid plc (LON NG) traded down 0.24% on Tuesday, reaching GBX 1018.00. The company’s stock had a trading volume of 6,348,863 shares. The company’s 50-day moving average is GBX 1,077.75 and its 200 day moving average is GBX 1,059.97. National Grid plc has a 12-month low of GBX 888.90 and a 12-month high of GBX 1,148.00. The company’s market capitalization is GBX 35.03 billion.
The business also recently disclosed a dividend, which will be paid on Wednesday, August 16th. Stockholders of record on Thursday, June 1st will be issued a GBX 29.10 ($0.37) dividend. This represents a dividend yield of 2.74%. The ex-dividend date of this dividend is Thursday, June 1st.
In related news, insider Dean Seavers acquired 4,574 shares of the firm’s stock in a transaction dated Thursday, June 15th. The stock was acquired at an average cost of GBX 1,020 ($13.00) per share, for a total transaction of £46,654.80 ($59,440.44). Insiders bought 4,617 shares of company stock valued at $4,709,713 over the last quarter.
About National Grid plc
National Grid plc is an electricity and gas utility company focused on transmission and distribution activities in electricity and gas in both the United Kingdom and the United States. The Company’s segments include UK Electricity Transmission, which is engaged in high voltage electricity transmission networks in Great Britain; UK Gas Transmission, which is the gas transmission network in Great Britain and United Kingdom liquefied natural gas (LNG) storage activities; UK Gas Distribution, which includes approximately four of the eight regional networks of Great Britain’s gas distribution system, and US Regulated, which includes gas distribution networks, electricity distribution networks and high voltage electricity transmission networks in New York, and New England and electricity generation facilities in New York.
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