National Grid (NYSE:NGG) Downgraded to Sector Perform Rating by Royal Bank of Canada

Royal Bank of Canada lowered shares of National Grid (NYSE:NGG) from an outperform rating to a sector perform rating in a research note issued to investors on Wednesday morning, Marketbeat.com reports.

A number of other equities research analysts also recently weighed in on the stock. UBS Group downgraded shares of National Grid from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 29th. Citigroup reaffirmed a “neutral” rating on shares of National Grid in a research report on Tuesday, May 6th. Barclays reaffirmed an “overweight” rating on shares of National Grid in a research report on Friday, May 16th. Sanford C. Bernstein raised shares of National Grid from a “market perform” rating to an “outperform” rating in a research report on Monday, March 17th. Finally, Wall Street Zen downgraded shares of National Grid from a “hold” rating to a “sell” rating in a research report on Friday, May 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold”.

National Grid Stock Performance

Shares of National Grid stock opened at $72.74 on Wednesday. The firm has a market cap of $71.17 billion, a PE ratio of 13.99, a price-to-earnings-growth ratio of 5.64 and a beta of 0.63. The firm’s 50-day simple moving average is $69.55 and its 200-day simple moving average is $63.99. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.54 and a current ratio of 1.61. National Grid has a 1 year low of $54.24 and a 1 year high of $74.82.

National Grid Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Monday, July 28th. Investors of record on Friday, May 30th will be given a dividend of $2.0345 per share. This represents a dividend yield of 4.7%. The ex-dividend date of this dividend is Friday, May 30th. National Grid’s dividend payout ratio is presently 78.08%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Whipplewood Advisors LLC bought a new position in National Grid in the 4th quarter worth about $25,000. Golden State Wealth Management LLC bought a new position in National Grid in the 1st quarter worth about $28,000. Brown Brothers Harriman & Co. grew its position in National Grid by 67.6% in the 4th quarter. Brown Brothers Harriman & Co. now owns 491 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 198 shares during the last quarter. SJS Investment Consulting Inc. bought a new position in National Grid in the 1st quarter worth about $29,000. Finally, Larson Financial Group LLC grew its position in National Grid by 145.6% in the 4th quarter. Larson Financial Group LLC now owns 700 shares of the utilities provider’s stock worth $42,000 after purchasing an additional 415 shares during the last quarter. Institutional investors own 4.68% of the company’s stock.

National Grid Company Profile

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.