National Grid plc Sets New 52-Week High at $75.58 (NGG)
National Grid plc (NYSE:NGG)’s share price hit a new 52-week high on Tuesday , American Banking News.com reports. The stock traded as high as $75.58 and last traded at $75.36, with a volume of 219,372 shares trading hands. The stock had previously closed at $74.38.
A number of research firms have recently commented on NGG. Analysts at RBC Capital reiterated an “outperform” rating on shares of National Grid plc in a research note on Friday. Separately, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of National Grid plc in a research note on Tuesday, June 24th. Finally, analysts at Credit Suisse reiterated an “outperform” rating on shares of National Grid plc in a research note on Thursday, June 19th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $74.35.
The stock’s 50-day moving average is $73.45 and its 200-day moving average is $68.82. The company has a market cap of $56.112 billion and a P/E ratio of 13.22. National Grid plc also was the recipient of a significant increase in short interest during the month of June. As of June 13th, there was short interest totalling 2,079,512 shares, an increase of 66.2% from the May 30th total of 1,251,409 shares. Based on an average trading volume of 571,443 shares, the short-interest ratio is presently 3.6 days. Approximately 0.0% of the shares of the company are sold short.
National Grid Plc is an electricity and gas utility company. The Company operates in three segments: UK Transmission, UK Gas Distribution and US Regulated.
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