National Grid PLC (NGG) Sees Large Volume Increase
Shares of National Grid PLC (NYSE:NGG) saw strong trading volume on Friday . 461,425 shares traded hands during mid-day trading, an increase of 11% from the previous session’s volume of 417,050 shares.The stock last traded at $71.54 and had previously closed at $69.85.
NGG has been the subject of several analyst reports. Citigroup Inc. reaffirmed a “neutral” rating on shares of National Grid PLC in a research report on Wednesday, August 3rd. Zacks Investment Research raised National Grid PLC from a “hold” rating to a “buy” rating and set a $83.00 target price for the company in a research report on Wednesday, June 1st. Beaufort Securities reaffirmed a “buy” rating on shares of National Grid PLC in a research report on Friday, May 20th. Royal Bank Of Canada lowered National Grid PLC from an “outperform” rating to a “sector perform” rating in a research report on Friday, July 29th. Finally, Macquarie lowered National Grid PLC from a “neutral” rating to an “underperform” rating in a research report on Thursday, May 5th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $81.50.
The stock has a market capitalization of $53.69 billion and a P/E ratio of 15.98. The company’s 50 day moving average is $71.74 and its 200 day moving average is $71.31.
An institutional investor recently raised its position in National Grid PLC stock. US Bancorp DE increased its stake in National Grid PLC (NYSE:NGG) by 17.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 253,498 shares of the company’s stock after buying an additional 37,721 shares during the period. US Bancorp DE’s holdings in National Grid PLC were worth $17,628,000 as of its most recent SEC filing.
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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