National Grid PLC (NGG) Now Covered by Goldman Sachs Group Inc.
Equities researchers at Goldman Sachs Group Inc. initiated coverage on shares of National Grid PLC (NYSE:NGG) in a note issued to investors on Tuesday. The brokerage set a “sell” rating on the stock.
Other equities research analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of National Grid PLC from a “hold” rating to a “buy” rating and set a $73.00 target price on the stock in a report on Wednesday, October 19th. Barclays PLC reiterated an “overweight” rating on shares of National Grid PLC in a report on Sunday, August 21st. Citigroup Inc. reiterated a “neutral” rating on shares of National Grid PLC in a report on Wednesday, August 3rd. Jefferies Group reiterated a “hold” rating on shares of National Grid PLC in a report on Friday, September 23rd. Finally, Sanford C. Bernstein lowered shares of National Grid PLC from an “outperform” rating to a “market perform” rating in a report on Wednesday, September 7th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $76.50.
Shares of National Grid PLC (NYSE:NGG) opened at 57.07 on Tuesday. The stock has a market capitalization of $42.95 billion, a price-to-earnings ratio of 17.04 and a beta of 0.50. The stock’s 50 day moving average is $62.39 and its 200-day moving average is $69.20. National Grid PLC has a one year low of $57.05 and a one year high of $74.97.
The company also recently disclosed a dividend, which will be paid on Wednesday, January 11th. Stockholders of record on Friday, November 25th will be issued a $0.933 dividend. The ex-dividend date is Tuesday, November 22nd.
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Several large investors have recently made changes to their positions in NGG. Euclid Advisors LLC purchased a new stake in shares of National Grid PLC during the first quarter worth $2,916,000. First Republic Investment Management Inc. increased its position in National Grid PLC by 35.3% in the first quarter. First Republic Investment Management Inc. now owns 13,732 shares of the company’s stock worth $981,000 after buying an additional 3,579 shares during the period. Fulton Bank N.A. increased its position in National Grid PLC by 3.7% in the second quarter. Fulton Bank N.A. now owns 57,613 shares of the company’s stock worth $4,282,000 after buying an additional 2,081 shares during the period. Integrated Investment Consultants LLC increased its position in 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. Finally, Creative Planning increased its position in National Grid PLC by 1.3% in the second quarter. Creative Planning now owns 13,820 shares of the company’s stock worth $1,027,000 after buying an additional 176 shares during the period. Institutional investors and hedge funds own 5.71% of the company’s stock.
About National Grid PLC
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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