JPMorgan Chase & Co. Lowers National Grid (LON:NG) Price Target to GBX 1,200

National Grid (LON:NG) had its target price cut by JPMorgan Chase & Co. from GBX 1,275 ($16.13) to GBX 1,200 ($15.18) in a research note released on Tuesday morning, MarketBeat Ratings reports. They currently have an overweight rating on the stock.

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

National Grid Stock Up 0.6 %

Shares of LON NG opened at GBX 928 ($11.74) on Tuesday. The company has a market capitalization of £44.64 billion, a P/E ratio of 1,537.67, a price-to-earnings-growth ratio of 2.78 and a beta of 0.29. National Grid has a 52-week low of GBX 889.40 ($11.25) and a 52-week high of GBX 1,145.50 ($14.49). The company has a debt-to-equity ratio of 161.24, a quick ratio of 0.34 and a current ratio of 0.91. The company’s 50 day moving average price is GBX 968.38 and its 200-day moving average price is GBX 1,018.25.

National Grid Increases Dividend

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

Insider Activity at National Grid

In other National Grid news, insider John Pettigrew sold 197,294 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of GBX 892 ($11.28), for a total transaction of £1,759,862.48 ($2,225,983.41). 0.11% of the stock is owned by company insiders.

About National Grid

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.