National Grid (NYSE:NGG) Upgraded to Hold by Zacks Investment Research

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Zacks Investment Research upgraded shares of National Grid (NYSE:NGG) from a sell rating to a hold rating in a report published on Thursday, 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. “

Other research analysts have also recently issued research reports about the stock. Exane BNP Paribas cut shares of National Grid from an outperform rating to a neutral rating in a report on Friday, January 10th. BNP Paribas cut shares of National Grid from an outperform rating to a neutral rating in a report on Friday, January 10th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $65.00.

NYSE NGG traded up $0.42 on Thursday, hitting $68.75. 264,115 shares of the stock were exchanged, compared to its average volume of 555,894. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 1.38. National Grid has a fifty-two week low of $48.83 and a fifty-two week high of $69.08. The company has a market cap of $50.39 billion, a PE ratio of 17.95, a PEG ratio of 10.01 and a beta of 0.45. The company has a 50-day moving average price of $64.66 and a 200-day moving average price of $58.06.

A number of hedge funds and other institutional investors have recently bought and sold shares of NGG. First Trust Advisors LP lifted its position in shares of 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 buying an additional 1,951 shares during the last quarter. Moors & Cabot Inc. lifted its position in shares of National Grid by 24.7% during the 3rd quarter. Moors & Cabot Inc. now owns 5,649 shares of the utilities provider’s stock worth $305,000 after buying an additional 1,119 shares during the last quarter. Cornerstone Advisors Inc. lifted its position in shares of National Grid by 130.1% during the 3rd quarter. Cornerstone Advisors Inc. now owns 902 shares of the utilities provider’s stock worth $49,000 after buying an additional 510 shares during the last quarter. Albert D Mason Inc. lifted its position in shares of National Grid by 1.9% during the 3rd quarter. Albert D Mason Inc. now owns 33,450 shares of the utilities provider’s stock worth $1,811,000 after buying an additional 620 shares during the last quarter. Finally, Raymond James Trust N.A. lifted its position in shares of National Grid by 3.3% during the 3rd quarter. Raymond James Trust N.A. now owns 28,331 shares of the utilities provider’s stock worth $1,534,000 after buying an additional 916 shares during the last quarter. Institutional investors own 5.29% 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 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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