Deutsche Bank Aktiengesellschaft Lowers National Grid (NYSE:NGG) Price Target to GBX 1,080

National Grid (NYSE:NGG – Get Rating) had its target price cut by Deutsche Bank Aktiengesellschaft from GBX 1,100 ($13.68) to GBX 1,080 ($13.43) in a report published on Monday, The Fly reports.

A number of other equities research analysts also recently commented on NGG. StockNews.com began coverage on shares of National Grid in a research report on Thursday, May 18th. They issued a hold rating on the stock. Credit Suisse Group boosted their price objective on shares of National Grid from GBX 1,150 ($14.30) to GBX 1,250 ($15.55) in a research note on Thursday, April 20th. Berenberg Bank decreased their target price on shares of National Grid from GBX 1,210 ($15.05) to GBX 1,100 ($13.68) in a research note on Monday, January 23rd. JPMorgan Chase & Co. upped their price target on shares of National Grid from GBX 1,150 ($14.30) to GBX 1,275 ($15.86) in a report on Monday, April 17th. Finally, Royal Bank of Canada started coverage on shares of National Grid in a report on Monday, February 13th. They set an outperform rating on the stock. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $1,183.75.

National Grid Price Performance

NGG opened at $67.63 on Monday. National Grid has a twelve month low of $47.22 and a twelve month high of $75.84. The firm’s 50-day moving average price is $69.85 and its 200 day moving average price is $64.80. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.91 and a current ratio of 1.00.

National Grid Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Wednesday, August 9th. Investors of record on Friday, June 2nd will be issued a $2.3458 dividend. This represents a dividend yield of 4.5%. This is a boost from National Grid’s previous semi-annual dividend of $2.09. The ex-dividend date of this dividend is Thursday, June 1st.

Hedge Funds Weigh In On National Grid

Institutional investors have recently modified their holdings of the stock. Keybank National Association OH raised its stake in National Grid by 3.7% in the 1st quarter. Keybank National Association OH now owns 3,977 shares of the utilities provider’s stock valued at $270,000 after acquiring an additional 143 shares during the period. Harbour Investments Inc. grew its holdings in National Grid by 15.7% in the 1st quarter. Harbour Investments Inc. now owns 1,061 shares of the utilities provider’s stock valued at $72,000 after buying an additional 144 shares in the last quarter. Elevated Capital Advisors LLC grew its holdings in National Grid by 0.6% in the 1st quarter. Elevated Capital Advisors LLC now owns 25,642 shares of the utilities provider’s stock valued at $1,743,000 after buying an additional 163 shares in the last quarter. Logan Capital Management Inc. grew its holdings in National Grid by 0.4% in the 1st quarter. Logan Capital Management Inc. now owns 43,747 shares of the utilities provider’s stock valued at $2,971,000 after buying an additional 180 shares in the last quarter. Finally, Cozad Asset Management Inc. grew its holdings in shares of National Grid by 4.3% during the 3rd quarter. Cozad Asset Management Inc. now owns 4,558 shares of the utilities provider’s stock worth $235,000 after purchasing an additional 189 shares in the last quarter. 3.49% of the stock is currently owned by institutional investors and hedge funds.

About National Grid

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National Grid Plc engages in the transmission and distribution of electricity and gas. It operates through the following segments: UK Electricity Transmission, UK Electricity Distribution, UK Electricity System Operator, New England, and New York. The UK Electricity Transmission segment focuses on the high-voltage electricity transmission networks in England and Wales.