National Grid (NYSE:NGG) Stock Rating Lowered by Royal Bank of Canada

National Grid (NYSE:NGG - Get Free Report) was downgraded by stock analysts at Royal Bank of Canada from an "outperform" rating to a "sector perform" rating in a note issued to investors on Wednesday, MarketBeat reports.

NGG has been the topic of a number of other reports. Barclays restated an "overweight" rating on shares of National Grid in a research note on Friday, May 16th. 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. Citigroup reaffirmed a "neutral" rating on shares of National Grid in a research report on Tuesday, May 6th. UBS Group cut shares of National Grid from a "buy" rating to a "neutral" rating in a research report on Tuesday, April 29th. Finally, Wall Street Zen cut shares of National Grid from a "hold" rating to a "sell" rating in a research report on Friday, May 16th. One analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $80.40.

National Grid Trading Down 1.6%

NGG stock traded down $1.17 during mid-day trading on Wednesday, reaching $71.40. The company had a trading volume of 785,260 shares, compared to its average volume of 737,156. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.61 and a quick ratio of 1.54. The company has a market capitalization of $69.86 billion, a PE ratio of 13.73, a price-to-earnings-growth ratio of 5.64 and a beta of 0.63. The firm has a 50 day moving average of $69.75 and a 200 day moving average of $64.04. National Grid has a 12 month low of $54.24 and a 12 month high of $74.82.

Institutional Investors Weigh In On National Grid

A number of hedge funds and other institutional investors have recently bought and sold shares of NGG. Whipplewood Advisors LLC purchased a new stake in National Grid during the fourth quarter valued at approximately $25,000. Golden State Wealth Management LLC purchased a new position in shares of National Grid in the first quarter worth $28,000. Brown Brothers Harriman & Co. raised its holdings in shares of National Grid by 67.6% in the fourth quarter. Brown Brothers Harriman & Co. now owns 491 shares of the utilities provider's stock worth $29,000 after buying an additional 198 shares during the last quarter. SJS Investment Consulting Inc. purchased a new position in shares of National Grid in the first quarter worth $29,000. Finally, Larson Financial Group LLC raised its holdings in shares of National Grid by 145.6% in the fourth quarter. Larson Financial Group LLC now owns 700 shares of the utilities provider's stock worth $42,000 after buying an additional 415 shares during the last quarter. Hedge funds and other 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.