National Grid plc (NG) Stock Rating Reaffirmed by HSBC Holdings plc
National Grid plc (LON:NG)‘s stock had its “buy” rating restated by investment analysts at HSBC Holdings plc in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. They presently have a GBX 1,060 ($13.69) price objective on the stock. HSBC Holdings plc’s price objective would indicate a potential upside of 8.78% from the company’s current price.
Other equities research analysts have also issued reports about the company. Deutsche Bank AG decreased their price target on National Grid plc from GBX 950 ($12.27) to GBX 900 ($11.62) and set a “sell” rating for the company in a research note on Thursday, August 17th. Barclays PLC reissued an “equal weight” rating and set a GBX 1,075 ($13.88) price target on shares of National Grid plc in a research note on Friday, May 12th. Goldman Sachs Group, Inc. (The) set a GBX 855 ($11.04) price target on National Grid plc and gave the stock a “sell” rating in a research note on Friday, May 19th. Finally, Berenberg Bank reissued a “buy” rating and set a GBX 1,050 ($13.56) price target on shares of National Grid plc in a research note on Tuesday, August 1st. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of GBX 1,011.47 ($13.06).
Shares of National Grid plc (LON:NG) traded down 0.72% during trading on Wednesday, reaching GBX 974.40. The company’s stock had a trading volume of 3,758,167 shares. National Grid plc has a 12-month low of GBX 888.90 and a 12-month high of GBX 1,118.60. The stock’s market cap is GBX 33.53 billion. The company has a 50 day moving average of GBX 959.71 and a 200-day moving average of GBX 1,033.62.
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In other news, insider Andrew R. J. Bonfield sold 22,191 shares of National Grid plc stock in a transaction on Monday, June 19th. The stock was sold at an average price of GBX 1,021 ($13.19), for a total value of £226,570.11 ($292,612.82). Also, insider Andrew R. J. Bonfield sold 14,710 shares of National Grid plc stock in a transaction on Monday, July 31st. The shares were sold at an average price of GBX 939 ($12.13), for a total value of £138,126.90 ($178,389.38). Insiders have acquired a total of 4,601 shares of company stock worth $4,690,989 over the last 90 days.
About National Grid plc
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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