National Grid (NYSE:NGG) Receives Neutral Rating from Citigroup

Citigroup reaffirmed their neutral rating on shares of National Grid (NYSE:NGG - Free Report) in a report issued on Tuesday morning, Marketbeat reports.

Other equities research analysts have also recently issued reports about the stock. UBS Group cut shares of National Grid from a "buy" rating to a "neutral" rating in a report on Tuesday, April 29th. Sanford C. Bernstein raised shares of National Grid from a "market perform" rating to an "outperform" rating in a research report on Monday, March 17th. Finally, StockNews.com upgraded shares of National Grid from a "sell" rating to a "hold" rating in a report on Wednesday, April 30th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, National Grid has a consensus rating of "Moderate Buy".

National Grid Trading Up 0.7 %

Shares of NGG traded up $0.50 during trading hours on Tuesday, hitting $70.68. 875,490 shares of the stock were exchanged, compared to its average volume of 695,477. The firm has a market capitalization of $69.16 billion, a P/E ratio of 13.59, a price-to-earnings-growth ratio of 5.64 and a beta of 0.63. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.61 and a quick ratio of 1.54. National Grid has a fifty-two week low of $54.24 and a fifty-two week high of $74.82. The business has a 50-day moving average of $67.16 and a 200-day moving average of $63.35.

Institutional Trading of National Grid

Several hedge funds and other institutional investors have recently modified their holdings of NGG. Raymond James Financial Inc. purchased a new stake in shares of National Grid during the fourth quarter worth $67,324,000. Federated Hermes Inc. boosted its stake in National Grid by 49.8% in the 1st quarter. Federated Hermes Inc. now owns 3,133,548 shares of the utilities provider's stock worth $205,592,000 after purchasing an additional 1,041,918 shares during the period. FMR LLC boosted its stake in National Grid by 11.9% in the 4th quarter. FMR LLC now owns 4,462,898 shares of the utilities provider's stock worth $265,185,000 after purchasing an additional 473,172 shares during the period. ABC Arbitrage SA bought a new stake in shares of National Grid during the fourth quarter valued at about $21,706,000. Finally, D. E. Shaw & Co. Inc. lifted its holdings in shares of National Grid by 5,134.3% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 330,706 shares of the utilities provider's stock worth $19,651,000 after buying an additional 324,388 shares in the last quarter. Institutional investors own 4.68% of the company's stock.

National Grid Company Profile

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.