Societe Generale began coverage on shares of National Grid (NYSE:NGG) in a report issued on Monday, March 19th, MarketBeat.com reports. The brokerage set a “buy” rating on the utilities provider’s stock.
Several other analysts also recently weighed in on NGG. Credit Suisse Group upgraded shares of National Grid from an “underperform” rating to a “neutral” rating in a research report on Monday, November 27th. ValuEngine raised shares of National Grid from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Deutsche Bank raised shares of National Grid from a “sell” rating to a “hold” rating in a report on Wednesday, December 6th. Macquarie raised shares of National Grid from a “neutral” rating to an “outperform” rating in a report on Tuesday, December 19th. Finally, Zacks Investment Research raised shares of National Grid from a “sell” rating to a “hold” rating and set a $65.00 price objective on the stock in a research note on Thursday, January 4th. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $67.00.
National Grid stock traded down $0.36 during trading on Monday, reaching $58.46. The stock had a trading volume of 844,137 shares, compared to its average volume of 789,717. The company has a market capitalization of $39,557.08, a P/E ratio of 11.86, a P/E/G ratio of 4.14 and a beta of 0.44. The company has a quick ratio of 0.71, a current ratio of 0.77 and a debt-to-equity ratio of 1.32. National Grid has a 52-week low of $51.44 and a 52-week high of $75.24.
A number of large investors have recently added to or reduced their stakes in NGG. State Street Corp lifted its holdings in National Grid by 2.7% in the 2nd quarter. State Street Corp now owns 7,910 shares of the utilities provider’s stock valued at $497,000 after purchasing an additional 206 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of National Grid by 19.8% during the 3rd quarter. First Trust Advisors LP now owns 8,956 shares of the utilities provider’s stock worth $562,000 after acquiring an additional 1,478 shares during the period. Sei Investments Co. lifted its holdings in shares of National Grid by 11.1% during the 3rd quarter. Sei Investments Co. now owns 47,071 shares of the utilities provider’s stock worth $2,952,000 after acquiring an additional 4,701 shares during the period. Comerica Bank purchased a new position in shares of National Grid during the 3rd quarter worth about $3,362,000. Finally, Advisors Asset Management Inc. lifted its holdings in shares of National Grid by 14.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 33,535 shares of the utilities provider’s stock worth $2,103,000 after acquiring an additional 4,136 shares during the period. Institutional investors own 5.37% of the company’s stock.
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National Grid Company Profile
National Grid plc transmits and distributes electricity and natural gas. It operates through UK Electricity Transmission, UK Gas Transmission, and US Regulated segments. The UK Electricity Transmission segment owns and operates electricity transmission networks, which comprise approximately 7,200 kilometers of overhead line; 1,500 kilometers of underground cable; and 342 substations located in England and Wales.
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