National Grid plc (NYSE:NGG) Receives Consensus Recommendation of “Buy” from Analysts

Shares of National Grid plc (NYSE:NGG) have been given an average rating of “Buy” by the seven ratings firms that are presently covering the stock, MarketBeat reports. Seven equities research analysts have rated the stock with a buy recommendation.

Several research firms have recently issued reports on NGG. The Goldman Sachs Group raised National Grid from a “neutral” rating to a “buy” rating in a report on Wednesday, June 12th. Citigroup upgraded National Grid from a “neutral” rating to a “buy” rating in a research report on Monday, June 3rd.

National Grid Price Performance

NGG opened at $69.60 on Wednesday. National Grid has a 52-week low of $55.13 and a 52-week high of $73.40. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.91 and a quick ratio of 0.84. The business’s fifty day moving average is $64.52 and its 200-day moving average is $64.50.

Institutional Trading of National Grid

Institutional investors and hedge funds have recently modified their holdings of the business. Capital International Investors bought a new position in National Grid in the first quarter valued at about $86,218,000. Hsbc Holdings PLC raised its position in National Grid by 11,704.2% in the second quarter. Hsbc Holdings PLC now owns 650,060 shares of the utilities provider’s stock valued at $36,917,000 after purchasing an additional 644,553 shares during the last quarter. Marshall Wace LLP bought a new position in National Grid in the second quarter valued at about $29,097,000. Wells Fargo & Company MN raised its position in National Grid by 10.3% in the fourth quarter. Wells Fargo & Company MN now owns 1,215,723 shares of the utilities provider’s stock valued at $82,657,000 after purchasing an additional 113,208 shares during the last quarter. Finally, Bank of Montreal Can raised its position in National Grid by 20.3% in the second quarter. Bank of Montreal Can now owns 536,784 shares of the utilities provider’s stock valued at $31,005,000 after purchasing an additional 90,722 shares during the last quarter. 4.68% of the stock is currently owned by institutional investors.

About National Grid

National Grid plc transmits and distributes electricity and gas. It operates through UK Electricity Transmission, UK Electricity Distribution, UK Electricity System Operator, New England, New York, National Grid Ventures, and Other segments. The UK Electricity Transmission segment provides electricity transmission and construction work services in England and Wales.