National Grid’s (NGG) Sell Rating Reiterated at Zacks Investment Research

National Grid (NYSE:NGG)‘s stock had its “sell” rating restated by Zacks Investment Research in a research report issued to clients and investors on Saturday, Zacks.com reports.

According to Zacks, “NATIONAL GRID -ADR is an international energy delivery business, whose principal activities are in the regulated electricity and gas industries. They own and operate the high-voltage electricity transmission network in England and Wales, and Britain’s natural gas transportation system. In the US they are one of the top ten electricity companies, with the largest electricity transmission and distribution network in the New England/New York region. “

A number of other brokerages have also recently weighed in on NGG. Sanford C. Bernstein upgraded shares of National Grid from a “market perform” rating to an “outperform” rating in a research report on Friday, June 14th. Macquarie started coverage on shares of National Grid in a research report on Monday, June 17th. They set an “outperform” rating for the company. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. National Grid has an average rating of “Buy” and an average price target of $61.00.

Shares of NGG opened at $53.18 on Friday. National Grid has a 1-year low of $46.36 and a 1-year high of $59.01. The firm has a market capitalization of $36.15 billion, a PE ratio of 13.89, a PEG ratio of 10.16 and a beta of 0.43. The company’s 50-day moving average is $52.34. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25.

Institutional investors and hedge funds have recently made changes to their positions in the business. Old Port Advisors increased its position in shares of National Grid by 10.6% during the first quarter. Old Port Advisors now owns 56,533 shares of the utilities provider’s stock valued at $3,157,000 after acquiring an additional 5,398 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of National Grid by 238.9% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 88,800 shares of the utilities provider’s stock valued at $4,261,000 after purchasing an additional 62,600 shares during the period. Grove Bank & Trust boosted its stake in shares of National Grid by 4.7% in the first quarter. Grove Bank & Trust now owns 15,928 shares of the utilities provider’s stock valued at $889,000 after purchasing an additional 717 shares during the period. Semmax Financial Advisors Inc. purchased a new position in shares of National Grid in the fourth quarter valued at approximately $235,000. Finally, Comerica Bank boosted its stake in shares of National Grid by 7.9% in the fourth quarter. Comerica Bank now owns 55,885 shares of the utilities provider’s stock valued at $2,980,000 after purchasing an additional 4,109 shares during the period. Institutional investors and hedge funds own 5.70% of the company’s stock.

National Grid Company Profile

National Grid plc transmits and distributes electricity and natural gas. It operates through UK Electricity Transmission, UK Gas Transmission, US Regulated, and National Grid Ventures and Other Activities segments. The UK Electricity Transmission segment owns and operates electricity transmission networks, which comprise approximately 7,200 kilometers of overhead lines; 1,560 kilometers of underground cables; and 346 substations in England and Wales, as well as Scottish electricity transmission systems.

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