National Grid (NYSE:NGG) Sets New 12-Month Low at $59.36

National Grid plc (NYSE:NGGGet Rating) reached a new 52-week low on Monday . The stock traded as low as $59.36 and last traded at $59.38, with a volume of 416 shares. The stock had previously closed at $59.83.

Analysts Set New Price Targets

Several equities analysts recently weighed in on NGG shares. Jefferies Financial Group cut National Grid from a “buy” rating to a “hold” rating in a research report on Thursday, June 30th. Credit Suisse Group boosted their price objective on National Grid from GBX 1,200 ($14.50) to GBX 1,225 ($14.80) in a research report on Friday, June 24th. Finally, StockNews.com lowered National Grid from a “buy” rating to a “hold” rating in a research note on Monday, August 15th. Eleven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $1,145.00.

National Grid Stock Performance

The firm has a 50 day moving average price of $66.68 and a two-hundred day moving average price of $70.55. The company has a quick ratio of 0.70, a current ratio of 0.73 and a debt-to-equity ratio of 1.40.

Institutional Investors Weigh In On National Grid

A number of large investors have recently bought and sold shares of NGG. JPMorgan Chase & Co. grew its position in National Grid by 275.6% during the 1st quarter. JPMorgan Chase & Co. now owns 1,212,835 shares of the utilities provider’s stock worth $93,231,000 after acquiring an additional 889,963 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in National Grid by 298.0% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 578,504 shares of the utilities provider’s stock worth $44,470,000 after buying an additional 433,158 shares in the last quarter. Bank of Montreal Can acquired a new position in National Grid during the 4th quarter worth $30,633,000. Goldman Sachs Group Inc. lifted its holdings in National Grid by 21.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,371,365 shares of the utilities provider’s stock worth $99,177,000 after buying an additional 245,263 shares in the last quarter. Finally, Beck Bode LLC acquired a new position in National Grid during the 1st quarter worth $12,130,000. 3.68% of the stock is currently owned by institutional investors.

About National Grid

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

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