National Grid plc (NYSE:NGG) Given Consensus Recommendation of “Buy” by Brokerages

National Grid plc (NYSE:NGG) has received a consensus rating of “Buy” from the seven brokerages that are covering the company, Marketbeat reports. Seven investment analysts have rated the stock with a buy rating.

Several equities analysts recently commented on NGG shares. Citigroup upgraded National Grid from a “neutral” rating to a “buy” rating in a research note on Monday, June 3rd. The Goldman Sachs Group raised shares of National Grid from a “neutral” rating to a “buy” rating in a research report on Wednesday, June 12th.

National Grid Stock Performance

Shares of NGG opened at $66.61 on Friday. The company’s 50 day simple moving average is $61.47 and its 200 day simple moving average is $64.29. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.84 and a current ratio of 0.91. The company has a market capitalization of $52.85 billion, a price-to-earnings ratio of 13.94, a PEG ratio of 5.74 and a beta of 0.61. National Grid has a 1 year low of $55.13 and a 1 year high of $73.40.

Institutional Investors Weigh In On National Grid

A number of institutional investors have recently added to or reduced their stakes in the company. RFP Financial Group LLC grew its holdings in shares of National Grid by 119.8% during the 1st quarter. RFP Financial Group LLC now owns 367 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 200 shares during the period. Headlands Technologies LLC acquired a new position in National Grid during the first quarter valued at approximately $27,000. Richardson Financial Services Inc. purchased a new stake in National Grid during the first quarter worth approximately $28,000. Bessemer Group Inc. acquired a new stake in shares of National Grid in the first quarter worth $29,000. Finally, Creekmur Asset Management LLC purchased a new position in shares of National Grid in the 4th quarter valued at $29,000. Hedge funds and other institutional investors own 4.68% of the company’s stock.

National Grid Company Profile

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.