National Grid PLC (NYSE:NGG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.
According to Zacks, “NATIONAL GRID -ADR is an international energy delivery business, whose principal activities are in the regulated electricity and gas industries. They own and operate the high-voltage electricity transmission network in England and Wales, and Britain’s natural gas transportation system. In the US they are one of the top ten electricity companies, with the largest electricity transmission and distribution network in the New England/New York region. “
A number of other analysts have also recently commented on NGG. Beaufort Securities restated a “buy” rating on shares of National Grid PLC in a report on Sunday, August 21st. Sanford C. Bernstein cut shares of National Grid PLC from an “outperform” rating to a “market perform” rating in a report on Wednesday. Royal Bank Of Canada cut shares of National Grid PLC from an “outperform” rating to a “sector perform” rating in a report on Friday, July 29th. Citigroup Inc. restated a “neutral” rating on shares of National Grid PLC in a report on Wednesday, August 3rd. Finally, RBC Capital Markets cut shares of National Grid PLC from an “outperform” rating to a “sector perform” rating in a report on Friday, July 29th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $81.50.

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Shares of National Grid PLC (NYSE:NGG) opened at 69.80 on Friday. The firm has a 50-day moving average of $71.53 and a 200 day moving average of $71.38. National Grid PLC has a 52 week low of $64.76 and a 52 week high of $74.97. The firm has a market cap of $52.31 billion, a PE ratio of 15.41 and a beta of 0.39.
A number of institutional investors have modified their holdings of the company. Integrated Investment Consultants LLC raised its position in shares of National Grid PLC by 1.8% in the second quarter. Integrated Investment Consultants LLC now owns 2,046 shares of the company’s stock worth $152,000 after buying an additional 36 shares during the period. Curbstone Financial Management Corp raised its position in shares of National Grid PLC by 0.4% in the first quarter. Curbstone Financial Management Corp now owns 22,850 shares of the company’s stock worth $1,632,000 after buying an additional 100 shares during the period. FTB Advisors Inc. raised its position in shares of National Grid PLC by 4.1% in the second quarter. FTB Advisors Inc. now owns 2,846 shares of the company’s stock worth $211,000 after buying an additional 113 shares during the period. Penobscot Investment Management Company Inc. raised its position in shares of National Grid PLC by 1.2% in the second quarter. Penobscot Investment Management Company Inc. now owns 9,880 shares of the company’s stock worth $734,000 after buying an additional 120 shares during the period. Finally, BlackRock Inc. raised its position in shares of National Grid PLC by 1.6% in the first quarter. BlackRock Inc. now owns 8,699 shares of the company’s stock worth $621,000 after buying an additional 141 shares during the period. 6.61% of the stock is owned by institutional investors and hedge funds.
National Grid PLC Company Profile
National Grid Plc is an electricity and gas utility company. The UK Electricity Transmission includes high voltage electricity transmission networks in Great Britain. Its UK Gas Transmission provides the gas transmission network in Great Britain and UK liquefied natural gas (LNG) storage activities. The Company’s UK Gas Distribution includes four of the eight regional networks of Great Britain’s gas distribution system.
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