National Grid plc (NG) Price Target Cut to GBX 900 by Analysts at Deutsche Bank AG
National Grid plc (LON:NG) had its price objective reduced by research analysts at Deutsche Bank AG from GBX 950 ($12.33) to GBX 900 ($11.68) in a report released on Thursday, MarketBeat.com reports. The brokerage presently has a “sell” rating on the stock. Deutsche Bank AG’s price target would suggest a potential downside of 6.28% from the stock’s current price.
Other research analysts have also recently issued research reports about the stock. HSBC Holdings plc restated a “buy” rating and issued a GBX 1,060 ($13.76) price objective on shares of National Grid plc in a report on Wednesday, April 19th. Morgan Stanley set a GBX 1,100 ($14.28) price objective on shares of National Grid plc and gave the company a “buy” rating in a report on Tuesday, May 2nd. Citigroup Inc. set a GBX 1,126 ($14.62) price objective on shares of National Grid plc and gave the company a “buy” rating in a report on Tuesday, June 20th. Berenberg Bank restated a “buy” rating and issued a GBX 1,050 ($13.63) price objective on shares of National Grid plc in a report on Tuesday, August 1st. Finally, Barclays PLC restated an “equal weight” rating and issued a GBX 1,075 ($13.96) price objective on shares of National Grid plc in a report on Friday, May 19th. Four analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of GBX 1,011.47 ($13.13).
Shares of National Grid plc (LON:NG) traded down 0.61% during mid-day trading on Thursday, reaching GBX 960.30. 5,826,364 shares of the company’s stock were exchanged. The stock’s market capitalization is GBX 32.86 billion. National Grid plc has a 1-year low of GBX 888.90 and a 1-year high of GBX 1,118.60. The company’s 50 day moving average is GBX 947.01 and its 200 day moving average is GBX 1,039.72.
In other news, insider Andrew R. J. Bonfield sold 14,710 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of GBX 939 ($12.19), for a total transaction of £138,126.90 ($179,315.72). Also, insider Dean Seavers acquired 4,574 shares of National Grid plc stock in a transaction dated Thursday, June 15th. The shares were bought at an average price of GBX 1,020 ($13.24) per share, with a total value of £46,654.80 ($60,567.05). Insiders have bought a total of 4,615 shares of company stock valued at $4,705,269 in the last 90 days.
National Grid plc Company Profile
National Grid plc is an electricity and gas utility company focused on transmission and distribution activities in electricity and gas in both the United Kingdom and the United States. The Company’s segments include UK Electricity Transmission, which is engaged in high voltage electricity transmission networks in Great Britain; UK Gas Transmission, which is the gas transmission network in Great Britain and United Kingdom liquefied natural gas (LNG) storage activities; UK Gas Distribution, which includes approximately four of the eight regional networks of Great Britain’s gas distribution system, and US Regulated, which includes gas distribution networks, electricity distribution networks and high voltage electricity transmission networks in New York, and New England and electricity generation facilities in New York.
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