National Grid Transco, PLC (NYSE:NGG) declared a semiannual dividend on Tuesday, November 14th, Wall Street Journal reports. Investors of record on Friday, November 24th will be given a dividend of 1.0169 per share by the utilities provider on Wednesday, January 10th. This represents a dividend yield of 3.44%. The ex-dividend date of this dividend is Wednesday, November 22nd.
National Grid Transco, PLC has raised its dividend by an average of 0.1% annually over the last three years. National Grid Transco, PLC has a dividend payout ratio of 92.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect National Grid Transco, PLC to earn $4.18 per share next year, which means the company should continue to be able to cover its $3.74 annual dividend with an expected future payout ratio of 89.5%.
National Grid Transco, PLC (NYSE:NGG) traded down $0.75 on Tuesday, hitting $59.20. 1,078,000 shares of the company were exchanged, compared to its average volume of 510,269. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.71 and a current ratio of 0.77. National Grid Transco, PLC has a 52 week low of $59.11 and a 52 week high of $75.24.
A number of analysts have issued reports on the stock. Zacks Investment Research upgraded shares of National Grid Transco, PLC from a “sell” rating to a “hold” rating in a report on Wednesday, July 26th. Berenberg Bank upgraded shares of National Grid Transco, PLC from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Finally, BidaskClub upgraded shares of National Grid Transco, PLC from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $69.00.
An institutional investor recently raised its position in National Grid Transco, PLC stock. State Street Corp increased its position in shares of National Grid Transco, PLC (NYSE:NGG) by 2.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,910 shares of the utilities provider’s stock after purchasing an additional 206 shares during the period. State Street Corp’s holdings in National Grid Transco, PLC were worth $497,000 at the end of the most recent quarter. Institutional investors own 5.18% of the company’s stock.
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National Grid Transco, PLC Company Profile
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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