StockNews.com Upgrades National Grid (NYSE:NGG) to Buy

National Grid (NYSE:NGGGet Rating) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Wednesday.

Several other analysts have also recently issued reports on the stock. Citigroup upgraded shares of National Grid from a “sell” rating to a “neutral” rating in a research note on Tuesday, October 4th. JPMorgan Chase & Co. began coverage on shares of National Grid in a research note on Tuesday, November 8th. They issued an “overweight” rating on the stock. Societe Generale upgraded shares of National Grid from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Credit Suisse Group lowered their target price on shares of National Grid from GBX 1,225 ($14.39) to GBX 1,150 ($13.51) in a research note on Friday, October 28th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $1,120.00.

National Grid Price Performance

NYSE NGG opened at $59.34 on Wednesday. National Grid has a 1 year low of $47.22 and a 1 year high of $80.20. The company has a current ratio of 0.71, a quick ratio of 0.66 and a debt-to-equity ratio of 1.52. The company’s 50 day simple moving average is $54.99 and its two-hundred day simple moving average is $64.06.

Hedge Funds Weigh In On National Grid

Several institutional investors and hedge funds have recently made changes to their positions in NGG. ACG Wealth bought a new position in shares of National Grid during the 2nd quarter valued at $25,000. Guardian Wealth Advisors LLC bought a new position in shares of National Grid during the 3rd quarter valued at $27,000. AXA S.A. bought a new position in shares of National Grid during the 3rd quarter valued at $27,000. Penserra Capital Management LLC bought a new position in shares of National Grid during the 3rd quarter valued at $31,000. Finally, JFS Wealth Advisors LLC grew its holdings in shares of National Grid by 65.4% during the 1st quarter. JFS Wealth Advisors LLC now owns 425 shares of the utilities provider’s stock valued at $33,000 after purchasing an additional 168 shares during the last quarter. Institutional investors own 3.68% of the company’s stock.

National Grid Company Profile

(Get Rating)

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.

See Also

Analyst Recommendations for National Grid (NYSE:NGG)

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