National Grid’s (NG) “Top Pick” Rating Reaffirmed at JPMorgan Chase & Co.

JPMorgan Chase & Co. restated their top pick rating on shares of National Grid (LON:NG) in a research report sent to investors on Friday morning, MarketBeat Ratings reports.

A number of other analysts have also recently weighed in on the stock. Jefferies Financial Group reissued a buy rating and set a GBX 1,330 ($16.82) target price on shares of National Grid in a report on Friday, April 19th. Royal Bank of Canada reiterated an outperform rating and set a GBX 1,125 ($14.23) price objective on shares of National Grid in a research note on Tuesday, June 25th.

National Grid Stock Performance

NG stock opened at GBX 928 ($11.74) on Friday. The stock’s 50 day simple moving average is GBX 968.38 and its 200 day simple moving average is GBX 1,018.25. National Grid has a 12-month low of GBX 889.40 ($11.25) and a 12-month high of GBX 1,145.50 ($14.49). The firm has a market cap of £44.64 billion, a P/E ratio of 1,546.67, a P/E/G ratio of 2.78 and a beta of 0.29. The company has a current ratio of 0.91, a quick ratio of 0.34 and a debt-to-equity ratio of 161.24.

National Grid Increases Dividend

The company also recently declared a dividend, which will be paid on Friday, July 19th. Stockholders of record on Thursday, June 6th will be issued a dividend of GBX 39.12 ($0.49) per share. This is an increase from National Grid’s previous dividend of $19.40. The ex-dividend date of this dividend is Thursday, June 6th. This represents a dividend yield of 3.47%. National Grid’s payout ratio is 9,833.33%.

Insider Transactions at National Grid

In other news, insider John Pettigrew sold 197,294 shares of National Grid stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of GBX 892 ($11.28), for a total transaction of £1,759,862.48 ($2,225,983.41). Insiders own 0.11% 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.