National Grid (NYSE:NGG) Shares Gap Down – Here’s Why

National Grid plc (NYSE:NGG) gapped down prior to trading on Wednesday . The stock had previously closed at $62.37, but opened at $60.59. National Grid shares last traded at $60.94, with a volume of 87,292 shares.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. StockNews.com raised shares of National Grid from a “sell” rating to a “hold” rating in a report on Tuesday, February 25th. Citigroup upgraded National Grid from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 21st. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, National Grid currently has a consensus rating of “Moderate Buy”.

National Grid Stock Down 2.4 %

The business’s 50-day simple moving average is $60.36 and its 200-day simple moving average is $63.43. The company has a market capitalization of $58.16 billion, a PE ratio of 11.43, a price-to-earnings-growth ratio of 5.64 and a beta of 0.63. The company has a current ratio of 1.61, a quick ratio of 1.54 and a debt-to-equity ratio of 1.18.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NGG. Whipplewood Advisors LLC acquired a new position in shares of National Grid in the 4th quarter valued at about $25,000. Brown Brothers Harriman & Co. lifted its holdings in National Grid by 67.6% in the fourth quarter. Brown Brothers Harriman & Co. now owns 491 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 198 shares during the period. Larson Financial Group LLC boosted its position in National Grid by 145.6% in the 4th quarter. Larson Financial Group LLC now owns 700 shares of the utilities provider’s stock worth $42,000 after purchasing an additional 415 shares in the last quarter. Rothschild Investment LLC grew its stake in shares of National Grid by 36.2% during the 4th quarter. Rothschild Investment LLC now owns 723 shares of the utilities provider’s stock worth $43,000 after purchasing an additional 192 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of National Grid during the 4th quarter worth approximately $53,000. 4.68% of the stock is currently owned by institutional investors and hedge funds.

National Grid Company Profile

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.