National Grid plc (NYSE:NGG) Receives Average Recommendation of “Buy” from Brokerages

Shares of National Grid plc (NYSE:NGG) have earned a consensus rating of “Buy” from the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a buy rating.

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

National Grid Price Performance

NYSE NGG opened at $69.60 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.41. National Grid has a one year low of $55.13 and a one year high of $73.40. The company has a 50-day simple moving average of $64.52 and a 200-day simple moving average of $64.52.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NGG. Sanctuary Advisors LLC acquired a new position in National Grid in the second quarter worth approximately $1,558,000. The Manufacturers Life Insurance Company grew its holdings in shares of National Grid by 17.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 480,271 shares of the utilities provider’s stock worth $27,279,000 after acquiring an additional 71,833 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of National Grid during the second quarter worth $29,097,000. Bank of Montreal Can raised its holdings in National Grid by 20.3% during the 2nd quarter. Bank of Montreal Can now owns 536,784 shares of the utilities provider’s stock worth $31,005,000 after buying an additional 90,722 shares during the period. Finally, Profund Advisors LLC raised its stake in National Grid by 3.0% during the 2nd quarter. Profund Advisors LLC now owns 7,003 shares of the utilities provider’s stock valued at $398,000 after purchasing an additional 203 shares during the period. Institutional investors own 4.68% of the company’s stock.

About National Grid

National Grid plc transmits and distributes electricity and gas. It 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.