National Grid (NYSE:NGG) Cut to “Hold” at Zacks Investment Research


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Zacks Investment Research lowered shares of National Grid (NYSE:NGG) from a buy rating to a hold rating in a report issued on Wednesday morning, Zacks.com reports.

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. “

A number of other research analysts also recently issued reports on the company. Royal Bank of Canada reiterated an outperform rating on shares of National Grid in a report on Wednesday, March 10th. HSBC raised 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. Deutsche Bank Aktiengesellschaft reaffirmed a buy rating on shares of National Grid in a research report on Friday, March 26th. Finally, JPMorgan Chase & Co. reaffirmed an overweight rating on shares of National Grid in a research report on Wednesday, February 3rd. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $69.00.

NYSE:NGG opened at $62.39 on Wednesday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.71 and a current ratio of 0.79. The company has a market cap of $44.29 billion, a PE ratio of 17.67, a PEG ratio of 6.41 and a beta of 0.32. National Grid has a 52-week low of $53.09 and a 52-week high of $63.78. The stock has a 50-day simple moving average of $59.08 and a 200 day simple moving average of $59.52.

A number of institutional investors have recently bought and sold shares of NGG. First Trust Advisors LP increased its stake in National Grid by 26.0% during the 1st quarter. First Trust Advisors LP now owns 9,454 shares of the utilities provider’s stock worth $528,000 after acquiring an additional 1,951 shares during the period. 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 purchasing an additional 34,138 shares during the last quarter. 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 purchasing an additional 560 shares during the last quarter. OLD Mission Capital LLC increased its stake in shares of National Grid by 330.1% in the 3rd quarter. OLD Mission Capital LLC now owns 141,558 shares of the utilities provider’s stock valued at $8,181,000 after purchasing an additional 108,648 shares during the last quarter. Finally, Captrust Financial Advisors increased its stake in shares of National Grid by 7.2% in the 3rd quarter. Captrust Financial Advisors now owns 3,552 shares of the utilities provider’s stock valued at $207,000 after purchasing an additional 239 shares during the last quarter. Hedge funds and other institutional investors own 4.07% of the company’s stock.

About National Grid

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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