National Grid plc Receives “Outperform” Rating from RBC Capital (NGG)
Shares of National Grid plc (NYSE:NGG) traded down 0.40% on Friday, hitting $74.93. 304,304 shares of the company’s stock traded hands. National Grid plc has a 1-year low of $57.12 and a 1-year high of $76.13. The stock has a 50-day moving average of $73.89 and a 200-day moving average of $69.39. The company has a market cap of $55.903 billion and a price-to-earnings ratio of 13.28. National Grid plc also was the target of a significant growth in short interest in June. As of June 13th, there was short interest totalling 2,079,512 shares, a growth of 66.2% from the May 30th total of 1,251,409 shares. Approximately 0.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 571,443 shares, the days-to-cover ratio is presently 3.6 days.
NGG has been the subject of a number of other recent research reports. Analysts at Zacks downgraded shares of National Grid plc from an “outperform” rating to a “neutral” rating in a research note on Monday. They now have a $78.70 price target on the stock. 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 research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $76.35.
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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