HSBC Lowers National Grid (NYSE:NGG) to Hold

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HSBC cut shares of National Grid (NYSE:NGG) from a buy rating to a hold rating in a report published on Thursday, Briefing.com Automated Import reports.

Several other brokerages also recently weighed in on NGG. Zacks Investment Research raised shares of National Grid from a sell rating to a hold rating in a research report on Thursday. BNP Paribas downgraded shares of National Grid from an outperform rating to a neutral rating in a research report on Friday, January 10th. Finally, Exane BNP Paribas downgraded shares of National Grid from an outperform rating to a neutral rating in a research report on Friday, January 10th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. National Grid has an average rating of Buy and a consensus target price of $65.00.

Shares of NGG opened at $68.75 on Thursday. The company has a market capitalization of $50.70 billion, a P/E ratio of 17.95, a price-to-earnings-growth ratio of 10.06 and a beta of 0.45. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 1.38. The firm has a 50 day moving average of $64.78 and a 200 day moving average of $58.14. National Grid has a twelve month low of $48.83 and a twelve month high of $69.08.

Large investors have recently bought and sold shares of the business. Renaissance Technologies LLC boosted its stake in shares of National Grid by 0.9% during the 4th quarter. Renaissance Technologies LLC now owns 6,832,767 shares of the utilities provider’s stock worth $428,210,000 after acquiring an additional 60,358 shares during the last quarter. Capital Research Global Investors purchased a new position in shares of National Grid during the 4th quarter worth $100,499,000. Parametric Portfolio Associates LLC boosted its stake in shares of National Grid by 17.7% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 728,027 shares of the utilities provider’s stock worth $39,408,000 after acquiring an additional 109,736 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of National Grid by 6.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 557,092 shares of the utilities provider’s stock worth $34,913,000 after acquiring an additional 32,998 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of National Grid by 41.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 439,524 shares of the utilities provider’s stock worth $27,545,000 after acquiring an additional 128,633 shares during the last quarter. 4.91% of the stock is owned by institutional investors and hedge funds.

About National Grid

National Grid plc transmits and distributes electricity and natural gas. It operates through UK Electricity Transmission, UK Gas Transmission, US Regulated, and National Grid Ventures and Other Activities segments. The UK Electricity Transmission segment owns and operates electricity transmission networks, which comprise approximately 7,200 kilometers of overhead lines; 1,560 kilometers of underground cables; and 346 substations in England and Wales, as well as Scottish electricity transmission systems.

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Analyst Recommendations for National Grid (NYSE:NGG)

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