National Grid plc (NYSE:NGG) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of National Grid plc (NYSE:NGG) have earned an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold rating and five have issued a buy rating on the company.

A number of analysts have commented on the company. StockNews.com upgraded National Grid from a “sell” rating to a “hold” rating in a research report on Wednesday, April 3rd. BNP Paribas raised shares of National Grid from an “underperform” rating to an “outperform” rating in a research note on Tuesday, April 2nd. Deutsche Bank Aktiengesellschaft upgraded shares of National Grid from a “hold” rating to a “buy” rating in a research report on Tuesday, January 16th. Finally, Jefferies Financial Group raised shares of National Grid from a “hold” rating to a “buy” rating in a research note on Monday, February 5th.

Hedge Funds Weigh In On National Grid

Institutional investors have recently made changes to their positions in the company. Bank of America Corp DE lifted its position in shares of National Grid by 2.8% during the 1st quarter. Bank of America Corp DE now owns 3,185,564 shares of the utilities provider’s stock valued at $216,586,000 after buying an additional 85,586 shares in the last quarter. Federated Hermes Inc. boosted its stake in shares of National Grid by 8.1% in the fourth quarter. Federated Hermes Inc. now owns 2,945,746 shares of the utilities provider’s stock worth $200,281,000 after acquiring an additional 220,504 shares during the last quarter. Morgan Stanley increased its position in shares of National Grid by 6.8% during the third quarter. Morgan Stanley now owns 1,878,189 shares of the utilities provider’s stock worth $113,875,000 after purchasing an additional 120,367 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in National Grid by 4.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,774,568 shares of the utilities provider’s stock valued at $119,482,000 after purchasing an additional 82,420 shares in the last quarter. Finally, FMR LLC boosted its position in National Grid by 23.9% during the third quarter. FMR LLC now owns 1,648,729 shares of the utilities provider’s stock worth $99,962,000 after acquiring an additional 318,533 shares during the last quarter. 4.68% of the stock is owned by hedge funds and other institutional investors.

National Grid Trading Up 1.3 %

NGG opened at $65.44 on Friday. The stock has a 50-day moving average price of $66.64 and a 200-day moving average price of $65.37. National Grid has a 1 year low of $56.40 and a 1 year high of $74.48. The company has a quick ratio of 0.82, a current ratio of 0.93 and a debt-to-equity ratio of 1.43.

About National Grid

National Grid plc transmits and distributes electricity and gas. The company operates through UK Electricity Transmission, UK Electricity Distribution, UK Electricity System Operator, New England, New York, National Grid Ventures, and Other segments. The UK Electricity Transmission segment provides electricity transmission and construction work services in England and Wales.