National Grid (LON:NG) Price Target Cut to GBX 1,300 by Analysts at Jefferies Financial Group

Key Points

• Jefferies cut National Grid’s price target to GBX 1,300 from GBX 1,410 while maintaining a “hold” rating, implying about 9.24% upside from the prior close.
• Analyst sentiment remains mixed but centered on “hold”: National Grid has an average rating of “Hold” and a consensus price target of approximately GBX 1,299.71.
• National Grid reported quarterly earnings of GBX 78 per share and revenue of GBX 1,768.70 billion, while insiders purchased 43,372 shares worth roughly £52.3 million over the prior 90 days.

National Grid (LON:NG - Get Free Report) had its price objective dropped by equities researchers at Jefferies Financial Group from GBX 1,410 to GBX 1,300 in a research note issued to investors on Monday,London Stock Exchange reports. The firm currently has a "hold" rating on the stock. Jefferies Financial Group's target price would suggest a potential upside of 9.24% from the stock's previous close.

Several other research analysts also recently weighed in on the company. Citigroup upped their target price on National Grid from GBX 1,149 to GBX 1,253 and gave the stock a "neutral" rating in a research note on Tuesday, April 28th. UBS Group reissued a "sell" rating and issued a GBX 1,160 price target on shares of National Grid in a report on Monday, May 11th. JPMorgan Chase & Co. lowered their price objective on National Grid from GBX 1,450 to GBX 1,440 and set an "overweight" rating on the stock in a report on Thursday, May 7th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and set a GBX 1,375 price objective on shares of National Grid in a research note on Thursday, July 2nd. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, National Grid presently has an average rating of "Hold" and an average price target of GBX 1,299.71.

National Grid Price Performance

Shares of National Grid stock opened at GBX 1,190 on Monday. The company has a quick ratio of 0.34, a current ratio of 0.76 and a debt-to-equity ratio of 118.97. National Grid has a twelve month low of GBX 645 and a twelve month high of GBX 1,145.50. The business has a 50-day moving average price of GBX 1,227.57 and a 200 day moving average price of GBX 1,267.01. The firm has a market cap of £58.42 billion, a PE ratio of 19.55, a P/E/G ratio of 2.06 and a beta of 0.60.

National Grid (LON:NG - Get Free Report) last released its quarterly earnings results on Thursday, May 14th. The company reported GBX 78 earnings per share for the quarter. The company had revenue of GBX 1,768.70 billion during the quarter. National Grid had a return on equity of 8.47% and a net margin of 18.32%. Sell-side analysts predict that National Grid will post 66.9851952 earnings per share for the current fiscal year.

Insider Transactions at National Grid

In related news, insider Zoe Yujnovich purchased 24,797 shares of the business's stock in a transaction that occurred on Monday, June 15th. The stock was purchased at an average price of GBX 1,203 per share, with a total value of £298,307.91. Also, insider Jacqui Ferguson acquired 1,936 shares of National Grid stock in a transaction that occurred on Friday, May 22nd. The shares were bought at an average price of GBX 1,281 per share, for a total transaction of £24,800.16. Insiders have purchased a total of 43,372 shares of company stock worth $52,328,932 in the last ninety days. Insiders own 0.18% of the company's stock.

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. The UK Electricity Distribution segment offers electricity distribution services in Midlands, and South West of England and South Wales.

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