National Grid PLC (NYSE:NGG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The firm presently has a $73.00 price target on the stock. Zacks Investment Research’s price target would suggest a potential upside of 11.48% from the stock’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. “
Several other brokerages have also commented on NGG. RBC Capital Markets lowered National Grid PLC from an “outperform” rating to a “sector perform” rating in a research note on Friday, July 29th. Jefferies Group reaffirmed a “hold” rating on shares of National Grid PLC in a research note on Friday, September 23rd. Citigroup Inc. reiterated a “neutral” rating on shares of National Grid PLC in a research report on Wednesday, August 3rd. Sanford C. Bernstein downgraded National Grid PLC from an “outperform” rating to a “market perform” rating in a research report on Wednesday, September 7th. Finally, Barclays PLC reiterated an “overweight” rating on shares of National Grid PLC in a research report on Sunday, August 21st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $76.50.
National Grid PLC (NYSE:NGG) opened at 65.48 on Wednesday. National Grid PLC has a 52-week low of $64.25 and a 52-week high of $74.97. The company has a 50 day moving average price of $69.23 and a 200-day moving average price of $71.27. The firm has a market cap of $49.07 billion, a price-to-earnings ratio of 15.00 and a beta of 0.38.
Several large investors have recently bought and sold shares of the company. Charter Trust Co. boosted its stake in National Grid PLC by 2.0% in the third quarter. Charter Trust Co. now owns 6,822 shares of the company’s stock worth $485,000 after buying an additional 134 shares during the period. Private Trust Co. NA boosted its stake in National Grid PLC by 1.0% in the third quarter. Private Trust Co. NA now owns 21,352 shares of the company’s stock worth $1,518,000 after buying an additional 217 shares during the period. Highland Capital Management LLC boosted its stake in National Grid PLC by 0.8% in the third quarter. Highland Capital Management LLC now owns 12,509 shares of the company’s stock worth $890,000 after buying an additional 100 shares during the period. MSI Financial Services Inc boosted its stake in National Grid PLC by 16.5% in the third quarter. MSI Financial Services Inc now owns 26,000 shares of the company’s stock worth $1,849,000 after buying an additional 3,686 shares during the period. Finally, Prospera Financial Services Inc bought a new stake in National Grid PLC during the third quarter worth approximately $434,000. 6.09% of the stock is currently owned by institutional investors.
National Grid PLC Company Profile
National Grid Plc is an electricity and gas utility company. The UK Electricity Transmission includes high voltage electricity transmission networks in Great Britain. Its UK Gas Transmission provides the gas transmission network in Great Britain and UK liquefied natural gas (LNG) storage activities. The Company’s UK Gas Distribution includes four of the eight regional networks of Great Britain’s gas distribution system.
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