National Grid (NYSE:NGG) was upgraded by Zacks Investment Research from a "hold" rating to a "buy" rating in a research report issued on Thursday, Zacks.com reports. The brokerage presently has a $68.00 price objective on the utilities provider's stock. Zacks Investment Research's price objective would indicate a potential upside of 11.71% from the company's previous close.
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. "
NGG has been the topic of several other reports. Smith Barney Citigroup raised shares of National Grid from a "neutral" rating to a "buy" rating in a research report on Wednesday, December 9th. HSBC raised shares of National Grid from a "hold" rating to a "buy" rating in a research report on Thursday, March 25th. Barclays reaffirmed an "overweight" rating on shares of National Grid in a research report on Tuesday, January 12th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised shares of National Grid from a "neutral" rating to a "buy" rating in a research report on Wednesday, December 9th. Finally, Royal Bank of Canada reiterated an "outperform" rating on shares of National Grid in a research note on Wednesday, March 10th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. The stock currently has an average rating of "Buy" and a consensus target price of $68.00.
NYSE NGG opened at $60.87 on Thursday. The company has a current ratio of 0.79, a quick ratio of 0.71 and a debt-to-equity ratio of 1.63. The firm's fifty day moving average price is $58.65 and its two-hundred day moving average price is $59.19. National Grid has a 1 year low of $53.07 and a 1 year high of $63.78. The firm has a market capitalization of $43.21 billion, a P/E ratio of 17.24, a price-to-earnings-growth ratio of 6.41 and a beta of 0.32.
A number of institutional investors have recently added to or reduced their stakes in NGG. First Trust Advisors LP increased its stake in shares of National Grid by 26.0% in the 1st quarter. First Trust Advisors LP now owns 9,454 shares of the utilities provider's stock valued at $528,000 after acquiring an additional 1,951 shares in the last quarter. State Street Corp increased its stake in shares of National Grid by 30.4% in the 3rd quarter. State Street Corp now owns 146,382 shares of the utilities provider's stock valued at $8,459,000 after acquiring an additional 34,138 shares in the last quarter. AXA S.A. bought a new stake in shares of National Grid in the 3rd quarter valued at $28,000. Wealth Alliance increased its stake in shares of National Grid by 4.8% in the 3rd quarter. Wealth Alliance now owns 12,287 shares of the utilities provider's stock valued at $710,000 after acquiring an additional 560 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its position in National Grid by 1.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 20,627 shares of the utilities provider's stock valued at $1,192,000 after purchasing an additional 374 shares during the period. Hedge funds and other institutional investors own 4.07% 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 (NGV) and Other segments. The UK Electricity Transmission segment owns and operates electricity transmission networks, which comprise approximately 7,212 kilometers of overhead lines; 2,239 kilometers of underground cables; and 347 substations in England and Wales, as well as Scottish electricity transmission systems.
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