Berenberg Bank Lowers National Grid (NYSE:NGG) to Hold

National Grid (NYSE:NGGGet Rating) was downgraded by equities research analysts at Berenberg Bank from a “buy” rating to a “hold” rating in a research note issued on Thursday, The Fly reports.

Several other research firms also recently commented on NGG. Bernstein Bank downgraded shares of National Grid from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from GBX 1,120 ($14.57) to GBX 1,105 ($14.38) in a report on Monday, January 10th. Morgan Stanley downgraded shares of National Grid from an “overweight” rating to an “equal weight” rating in a report on Thursday, February 17th. Sanford C. Bernstein downgraded shares of National Grid from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $1,120.00 to $1,105.00 in a report on Monday, January 10th. Investec downgraded shares of National Grid to a “buy” rating in a report on Thursday. Finally, Zacks Investment Research downgraded shares of National Grid from a “buy” rating to a “hold” rating in a report on Wednesday, March 16th. Ten investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, National Grid currently has an average rating of “Hold” and a consensus price target of $873.00.

National Grid stock opened at $77.31 on Thursday. The firm has a 50 day moving average price of $75.30 and a 200-day moving average price of $70.72. National Grid has a twelve month low of $59.53 and a twelve month high of $80.20. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.69 and a quick ratio of 0.67.

Institutional investors have recently bought and sold shares of the company. Ahrens Investment Partners LLC purchased a new stake in shares of National Grid during the 4th quarter valued at $27,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of National Grid during the 1st quarter valued at $31,000. Ellevest Inc. purchased a new stake in shares of National Grid during the 4th quarter valued at $30,000. Newbridge Financial Services Group Inc. raised its position in shares of National Grid by 120.8% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 457 shares of the utilities provider’s stock valued at $33,000 after buying an additional 250 shares in the last quarter. Finally, EverSource Wealth Advisors LLC purchased a new stake in shares of National Grid during the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 3.49% of the company’s stock.

National Grid Company Profile (Get Rating)

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 (NGV) and Other segments. The UK Electricity Transmission segment owns and operates electricity transmission networks, which comprise approximately 7,236 kilometers of overhead lines.

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