National Grid plc (NYSE:NGG - Get Free Report) declared a semi-annual dividend on Thursday, November 7th,Wall Street Journal reports. Stockholders of record on Friday, November 22nd will be given a dividend of 2.4939 per share by the utilities provider on Tuesday, January 14th. This represents a dividend yield of 4%. The ex-dividend date is Friday, November 22nd.
National Grid has raised its dividend by an average of 4.0% annually over the last three years. National Grid has a dividend payout ratio of 102.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect National Grid to earn $4.93 per share next year, which means the company may not be able to cover its $4.99 annual dividend with an expected future payout ratio of 101.2%.
National Grid Trading Down 0.6 %
Shares of NGG traded down $0.36 during midday trading on Friday, reaching $63.94. The stock had a trading volume of 488,061 shares, compared to its average volume of 407,374. The firm's 50 day moving average price is $67.34 and its 200-day moving average price is $64.56. National Grid has a 52 week low of $55.13 and a 52 week high of $73.40. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.41.
Analyst Ratings Changes
NGG has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft assumed coverage on shares of National Grid in a research note on Wednesday, October 2nd. They issued a "buy" rating on the stock. Citigroup lowered National Grid from a "buy" rating to a "neutral" rating in a research report on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy".
Read Our Latest Report on NGG
National Grid Company Profile
(
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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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