National Grid (NYSE:NGG) Sees Strong Trading Volume

National Grid plc (NYSE:NGG) saw unusually-strong trading volume on Monday . Approximately 977,637 shares were traded during mid-day trading, an increase of 183% from the previous session’s volume of 345,412 shares.The stock last traded at $65.16 and had previously closed at $64.42.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. StockNews.com assumed coverage on shares of National Grid in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Barclays assumed coverage on shares of National Grid in a report on Thursday, September 28th. They issued an “overweight” rating on the stock. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,176.25.

National Grid Price Performance

The company has a quick ratio of 0.82, a current ratio of 0.93 and a debt-to-equity ratio of 1.43. The firm has a market capitalization of $48.11 billion, a PE ratio of 14.31, a PEG ratio of 4.79 and a beta of 0.69. The firm’s fifty day simple moving average is $61.13 and its 200-day simple moving average is $64.65.

National Grid Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Thursday, January 11th. Shareholders of record on Friday, November 24th will be issued a $1.1899 dividend. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a yield of 5.8%. National Grid’s dividend payout ratio (DPR) is presently 103.33%.

Institutional Trading of National Grid

A number of large investors have recently made changes to their positions in the stock. Creative Planning grew its stake in shares of National Grid by 11.7% in the third quarter. Creative Planning now owns 48,613 shares of the utilities provider’s stock worth $2,947,000 after acquiring an additional 5,096 shares during the period. Tudor Investment Corp Et Al bought a new stake in shares of National Grid in the third quarter worth approximately $2,965,000. Morgan Stanley grew its position in National Grid by 6.8% during the third quarter. Morgan Stanley now owns 1,878,189 shares of the utilities provider’s stock valued at $113,875,000 after buying an additional 120,367 shares during the period. Mercer Global Advisors Inc. ADV grew its position in National Grid by 29.9% during the third quarter. Mercer Global Advisors Inc. ADV now owns 51,846 shares of the utilities provider’s stock valued at $3,143,000 after buying an additional 11,930 shares during the period. Finally, Scotia Capital Inc. grew its position in National Grid by 2.0% during the third quarter. Scotia Capital Inc. now owns 12,476 shares of the utilities provider’s stock valued at $756,000 after buying an additional 248 shares during the period. 4.40% of the stock is currently owned by institutional investors.

About National Grid

National Grid plc transmits and distributes electricity and gas. The company 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.