National Grid plc (NYSE:NGG) Receives Consensus Recommendation of “Buy” from Analysts

Shares of National Grid plc (NYSE:NGG) have earned a consensus recommendation of “Buy” from the seven ratings firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold rating and six have given a buy rating to the company.

A number of brokerages recently weighed in on NGG. Zacks Investment Research upgraded shares of National Grid from a “sell” rating to a “hold” rating in a report on Wednesday, July 24th. Credit Suisse Group upgraded shares of National Grid from a “neutral” rating to an “outperform” rating in a report on Thursday, October 17th. Finally, Deutsche Bank upgraded shares of National Grid from a “hold” rating to a “buy” rating in a report on Tuesday, July 23rd.

Shares of NGG stock traded down $0.24 during trading on Thursday, reaching $58.19. The company’s stock had a trading volume of 360,000 shares, compared to its average volume of 560,421. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.70 and a quick ratio of 0.65. The company has a market capitalization of $42.58 billion, a price-to-earnings ratio of 15.19, a P/E/G ratio of 11.23 and a beta of 0.44. The stock’s 50-day moving average price is $56.70 and its 200 day moving average price is $53.49. National Grid has a 1-year low of $46.36 and a 1-year high of $59.50.

Several hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC grew its holdings in shares of National Grid by 12.5% in the second quarter. Renaissance Technologies LLC now owns 5,973,068 shares of the utilities provider’s stock valued at $317,648,000 after purchasing an additional 662,742 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of National Grid by 1.9% in the 2nd quarter. Bank of America Corp DE now owns 3,484,323 shares of the utilities provider’s stock valued at $185,296,000 after purchasing an additional 66,485 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of National Grid by 1.6% in the 2nd quarter. Wells Fargo & Company MN now owns 1,368,658 shares of the utilities provider’s stock valued at $72,785,000 after purchasing an additional 21,903 shares in the last quarter. Royal Bank of Canada lifted its position in shares of National Grid by 2.6% during the 2nd quarter. Royal Bank of Canada now owns 925,297 shares of the utilities provider’s stock worth $49,206,000 after purchasing an additional 23,570 shares during the last quarter. Finally, Parametric Portfolio Associates LLC lifted its position in shares of National Grid by 11.5% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 618,291 shares of the utilities provider’s stock worth $32,881,000 after purchasing an additional 63,577 shares during the last quarter. Hedge funds and other institutional investors own 5.30% 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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Analyst Recommendations for National Grid (NYSE:NGG)

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