National Grid PLC (NGG) Shares Gap Up to $71.08
National Grid PLC (NYSE:NGG)’s share price gapped up before the market opened 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.
NGG has been the subject of several analyst reports. Macquarie downgraded shares of National Grid PLC from a “neutral” rating to an “underperform” rating in a report on Thursday, May 5th. JPMorgan Chase & Co. raised shares of National Grid PLC from a “neutral” rating to an “overweight” rating in a report on Wednesday, May 4th. Deutsche Bank AG restated a “hold” rating on shares of National Grid PLC in a research report on Tuesday, May 17th. RBC Capital Markets cut shares of National Grid PLC from an “outperform” rating to a “sector perform” rating in a research report on Friday, July 29th. Finally, Zacks Investment Research upgraded shares of National Grid PLC from a “hold” rating to a “buy” rating and set a $83.00 price objective for the company in a research report on Wednesday, June 1st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. National Grid PLC has a consensus rating of “Hold” and a consensus target price of $81.50.
The company has a 50 day moving average of $72.58 and a 200 day moving average of $71.27. The firm has a market capitalization of $53.95 billion and a P/E ratio of 16.09.
Other institutional investors have added to or reduced their stakes in the company. Venturi Wealth Management LLC acquired a new position in National Grid PLC during the fourth quarter valued at approximately $1,728,000. US Bancorp DE increased its position in National Grid PLC by 17.5% in the fourth quarter. US Bancorp DE now owns 253,498 shares of the company’s stock valued at $17,628,000 after buying an additional 37,721 shares during the period. Advisors Asset Management Inc. increased its position in National Grid PLC by 46.2% in the fourth quarter. Advisors Asset Management Inc. now owns 25,670 shares of the company’s stock valued at $1,785,000 after buying an additional 8,111 shares during the period. Finally, Eaton Vance Management increased its position in National Grid PLC by 2.0% in the fourth quarter. Eaton Vance Management now owns 15,353 shares of the company’s stock valued at $1,068,000 after buying an additional 294 shares during the period.
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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