National Grid PLC (NGG) Shares Gap Up to $71.08
Shares of National Grid PLC (NYSE:NGG) gapped up prior to trading on Thursday . The stock had previously closed at $70.74, but opened at $71.08. National Grid PLC shares last traded at $71.66, with a volume of 227,502 shares trading hands.
Several analysts have recently commented on the stock. Citigroup Inc. reaffirmed a “neutral” rating on shares of National Grid PLC in a report on Wednesday, August 3rd. Zacks Investment Research raised shares of National Grid PLC from a “hold” rating to a “buy” rating and set a $83.00 price target on the stock in a report on Wednesday, June 1st. Royal Bank Of Canada downgraded shares of National Grid PLC from an “outperform” rating to a “sector perform” rating in a report on Friday, July 29th. Beaufort Securities reissued a “buy” rating on shares of National Grid PLC in a report on Friday, May 20th. Finally, Macquarie downgraded shares of National Grid PLC from a “neutral” rating to an “underperform” rating in a report on Thursday, May 5th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $81.50.
The company has a market cap of $53.38 billion and a price-to-earnings ratio of 16.01. The stock’s 50-day moving average is $72.49 and its 200-day moving average is $71.27.
A number of hedge funds recently added to or reduced their stakes in NGG. Eaton Vance Management boosted its stake in National Grid PLC by 2.0% in the fourth quarter. Eaton Vance Management now owns 15,353 shares of the company’s stock worth $1,068,000 after buying an additional 294 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in shares of National Grid PLC during the fourth quarter worth approximately $1,728,000. Advisors Asset Management Inc. boosted its position in shares of National Grid PLC by 46.2% in the fourth quarter. Advisors Asset Management Inc. now owns 25,670 shares of the company’s stock worth $1,785,000 after buying an additional 8,111 shares during the last quarter. Finally, US Bancorp DE boosted its position in shares of National Grid PLC by 17.5% in the fourth quarter. US Bancorp DE now owns 253,498 shares of the company’s stock worth $17,628,000 after buying an additional 37,721 shares during the last quarter.
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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