JPMorgan Chase & Co. reiterated their overweight rating on shares of National Grid (LON:NG – Free Report) in a research note released on Thursday, MarketBeat reports. The brokerage currently has a GBX 1,200 ($15.44) price target on the stock.
A number of other analysts have also recently issued reports on the company. Royal Bank of Canada reissued an outperform rating and set a GBX 1,125 ($14.47) target price on shares of National Grid in a research note on Tuesday, June 25th. Jefferies Financial Group reissued a buy rating and set a GBX 1,330 ($17.11) target price on shares of National Grid in a research note on Friday, April 19th.
Check Out Our Latest Stock Analysis on NG
National Grid Stock Performance
National Grid Increases Dividend
The firm also recently declared a dividend, which was paid on Friday, July 19th. Stockholders of record on Thursday, June 6th were paid a dividend of GBX 39.12 ($0.50) per share. This is a boost from National Grid’s previous dividend of $19.40. This represents a dividend yield of 3.47%. The ex-dividend date of this dividend was Thursday, June 6th. National Grid’s dividend payout ratio (DPR) is currently 9,833.33%.
Insider Transactions at National Grid
In other news, insider John Pettigrew sold 197,294 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of GBX 892 ($11.47), for a total transaction of £1,759,862.48 ($2,263,779.88). In related news, insider Andrew Agg acquired 18,915 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was bought at an average price of GBX 945 ($12.16) per share, with a total value of £178,746.75 ($229,928.93). Also, insider John Pettigrew sold 197,294 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of GBX 892 ($11.47), for a total value of £1,759,862.48 ($2,263,779.88). Insiders acquired 19,234 shares of company stock valued at $18,174,431 in the last ninety days. 0.11% of the stock is currently owned by corporate insiders.
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.
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