National Grid (NGG) Upgraded at BNP Paribas

National Grid (NYSE:NGG) was upgraded by BNP Paribas from a “neutral” rating to an “outperform” rating in a research note issued on Monday.

NGG has been the subject of a number of other reports. Zacks Investment Research lowered shares of National Grid from a “hold” rating to a “sell” rating in a research note on Wednesday, November 15th. ValuEngine raised shares of National Grid from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Credit Suisse Group raised shares of National Grid from an “underperform” rating to a “neutral” rating in a research note on Monday, November 27th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of National Grid in a research note on Wednesday, November 15th. Finally, Goldman Sachs Group raised shares of National Grid from a “sell” rating to a “neutral” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. National Grid currently has a consensus rating of “Hold” and a consensus price target of $67.00.

National Grid (NYSE:NGG) traded down $0.68 during trading hours on Monday, reaching $56.91. 177,939 shares of the company were exchanged, compared to its average volume of 750,710. National Grid has a 52 week low of $56.63 and a 52 week high of $75.24. The company has a quick ratio of 0.71, a current ratio of 0.77 and a debt-to-equity ratio of 1.32.

Several hedge funds have recently added to or reduced their stakes in the business. State Street Corp lifted its position in shares of National Grid by 2.7% during the second quarter. State Street Corp now owns 7,910 shares of the utilities provider’s stock valued at $497,000 after buying an additional 206 shares during the last quarter. First Bank & Trust lifted its position in shares of National Grid by 2.9% during the third quarter. First Bank & Trust now owns 29,600 shares of the utilities provider’s stock valued at $1,856,000 after buying an additional 830 shares during the last quarter. Wright Investors Service Inc. lifted its position in shares of National Grid by 17.3% during the third quarter. Wright Investors Service Inc. now owns 6,995 shares of the utilities provider’s stock valued at $439,000 after buying an additional 1,034 shares during the last quarter. Patriot Financial Group Insurance Agency LLC lifted its position in shares of National Grid by 32.8% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 4,452 shares of the utilities provider’s stock valued at $279,000 after buying an additional 1,099 shares during the last quarter. Finally, Private Advisor Group LLC lifted its position in shares of National Grid by 4.7% during the third quarter. Private Advisor Group LLC now owns 26,238 shares of the utilities provider’s stock valued at $1,643,000 after buying an additional 1,172 shares during the last quarter. 5.59% of the stock is owned by institutional investors and hedge funds.

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National Grid 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.