Latest Stocks: National Grid plc (NGG) Upgraded at Bank of America Corp

Latest Stocks: National Grid plc (NGG) Upgraded at Bank of America Corp

Bank of America Corp upgraded shares of National Grid plc (NYSE:NGG) from a neutral rating to a buy rating in a research report sent to investors on Monday, May 15th.

Several other analysts also recently weighed in on the company. Barclays PLC restated an equal weight rating and set a $69.00 price objective on shares of National Grid plc in a research report on Friday, May 12th. Berenberg Bank downgraded National Grid plc from a buy rating to a hold rating in a research report on Thursday, May 11th. Royal Bank of Canada downgraded National Grid plc from an outperform rating to a sector perform rating in a research report on Thursday, May 4th. BNP Paribas upgraded National Grid plc from an underperform rating to a neutral rating in a research report on Tuesday, March 21st. Finally, Societe Generale upgraded National Grid plc from a sell rating to a hold rating in a research report on Friday, March 17th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the stock. National Grid plc presently has a consensus rating of Hold and an average target price of $74.00.

The company also recently disclosed a special dividend, which will be paid on Wednesday, August 16th. Shareholders of record on Friday, June 2nd will be paid a $1.872 dividend. The ex-dividend date is Wednesday, May 31st. This is a boost from National Grid plc’s previous special dividend of $0.93. Large investors have recently made changes to their positions in the stock. Energy Income Partners LLC purchased a new stake in shares of National Grid plc during the fourth quarter worth approximately $66,472,000. Miller Howard Investments Inc. NY boosted its stake in shares of National Grid plc by 814.6% in the first quarter. Miller Howard Investments Inc. NY now owns 1,248,874 shares of the utilities provider’s stock worth $79,279,000 after buying an additional 1,112,329 shares during the period. Jane Street Group LLC boosted its stake in shares of National Grid plc by 116.3% in the first quarter. Jane Street Group LLC now owns 1,022,460 shares of the utilities provider’s stock worth $64,906,000 after buying an additional 549,785 shares during the period. Renaissance Technologies LLC boosted its stake in shares of National Grid plc by 20.4% in the fourth quarter. Renaissance Technologies LLC now owns 2,942,365 shares of the utilities provider’s stock worth $171,628,000 after buying an additional 497,865 shares during the period. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of National Grid plc during the third quarter worth approximately $34,878,000. 5.55% of the stock is owned by hedge funds and other institutional investors.

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