National Grid (NYSE:NGG) Trading 8.1% Higher

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National Grid plc (NYSE:NGG) shares traded up 8.1% during trading on Wednesday . The company traded as high as $49.88 and last traded at $53.56, 93,508 shares changed hands during trading. A decline of 92% from the average session volume of 1,110,977 shares. The stock had previously closed at $49.55.

Several research analysts recently issued reports on NGG shares. BNP Paribas lowered shares of National Grid from an “outperform” rating to a “neutral” rating in a research report on Friday, January 10th. HSBC upgraded shares of National Grid from a “hold” rating to a “buy” rating in a research report on Thursday, March 19th. Goldman Sachs Group reiterated a “neutral” rating on shares of National Grid in a research report on Monday. Zacks Investment Research upgraded shares of National Grid from a “sell” rating to a “hold” rating in a research report on Tuesday, March 17th. Finally, Exane BNP Paribas lowered shares of National Grid from an “outperform” rating to a “neutral” rating in a research report on Friday, January 10th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. National Grid presently has a consensus rating of “Buy” and an average price target of $65.00.

The firm’s 50-day moving average is $62.33 and its 200-day moving average is $59.56. The company has a market capitalization of $39.80 billion, a PE ratio of 14.92, a price-to-earnings-growth ratio of 7.25 and a beta of 0.50. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 1.38.

A number of institutional investors have recently bought and sold shares of NGG. Capital Research Global Investors bought a new stake in National Grid in the fourth quarter worth $100,499,000. Nuveen Asset Management LLC lifted its stake in National Grid by 111.2% in the fourth quarter. Nuveen Asset Management LLC now owns 592,966 shares of the utilities provider’s stock worth $37,161,000 after purchasing an additional 312,206 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in National Grid by 41.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 439,524 shares of the utilities provider’s stock worth $27,545,000 after purchasing an additional 128,633 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in National Grid by 147.5% in the fourth quarter. Bank of New York Mellon Corp now owns 186,900 shares of the utilities provider’s stock worth $11,714,000 after purchasing an additional 111,384 shares during the last quarter. Finally, Parametric Portfolio Associates LLC lifted its stake in National Grid by 17.7% in the third quarter. Parametric Portfolio Associates LLC now owns 728,027 shares of the utilities provider’s stock worth $39,408,000 after purchasing an additional 109,736 shares during the last quarter. 5.10% of the stock is owned by institutional investors and hedge funds.

National Grid Company Profile (NYSE:NGG)

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 and Other Activities segments. The UK Electricity Transmission segment owns and operates electricity transmission networks, which comprise approximately 7,200 kilometers of overhead lines; 1,560 kilometers of underground cables; and 346 substations in England and Wales, as well as Scottish electricity transmission systems.

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