Credit Suisse Group Upgrades National Grid (NYSE:NGG) to Outperform

Credit Suisse Group upgraded shares of National Grid (NYSE:NGG) from a neutral rating to an outperform rating in a research note published on Thursday, BenzingaRatingsTable reports.

A number of other analysts have also recently commented on NGG. Zacks Investment Research raised shares of National Grid from a sell rating to a hold rating in a report on Wednesday, July 24th. Deutsche Bank raised shares of National Grid from a hold rating to a buy rating in a report on Tuesday, July 23rd. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $61.00.

Shares of NGG traded up $0.45 during mid-day trading on Thursday, hitting $58.21. 690,505 shares of the company traded hands, compared to its average volume of 561,151. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The stock has a 50-day moving average price of $53.31 and a two-hundred day moving average price of $52.91. National Grid has a 1 year low of $46.36 and a 1 year high of $59.01. The stock has a market cap of $42.60 billion, a price-to-earnings ratio of 15.19, a P/E/G ratio of 11.24 and a beta of 0.43.

A number of hedge funds have recently made changes to their positions in NGG. Renaissance Technologies LLC increased its holdings in National Grid by 12.5% during the second quarter. Renaissance Technologies LLC now owns 5,973,068 shares of the utilities provider’s stock valued at $317,648,000 after buying an additional 662,742 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in National Grid during the second quarter valued at approximately $17,018,000. Miller Howard Investments Inc. NY increased its holdings in National Grid by 195.4% during the second quarter. Miller Howard Investments Inc. NY now owns 288,300 shares of the utilities provider’s stock valued at $15,332,000 after buying an additional 190,703 shares during the last quarter. Bank of America Corp DE increased its holdings in National Grid by 1.9% during the second quarter. Bank of America Corp DE now owns 3,484,323 shares of the utilities provider’s stock valued at $185,296,000 after buying an additional 66,485 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its holdings in National Grid by 11.5% during the second quarter. Parametric Portfolio Associates LLC now owns 618,291 shares of the utilities provider’s stock valued at $32,881,000 after buying an additional 63,577 shares during the last quarter. 5.28% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for National Grid (NYSE:NGG)

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