National Grid (NYSE:NGG) Stock Rating Upgraded by Sanford C. Bernstein

National Grid (NYSE:NGG) was upgraded by analysts at Sanford C. Bernstein from a “market perform” rating to an “outperform” rating in a research report issued on Friday, The Fly reports.

Separately, Zacks Investment Research cut shares of National Grid from a “hold” rating to a “sell” rating in a report on Wednesday, May 15th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $61.00.

Shares of National Grid stock opened at $51.96 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. National Grid has a 1 year low of $46.36 and a 1 year high of $59.01. The stock has a market cap of $35.43 billion, a price-to-earnings ratio of 13.57, a price-to-earnings-growth ratio of 10.13 and a beta of 0.43.

Institutional investors have recently modified their holdings of the business. Orrstown Financial Services Inc. bought a new stake in shares of National Grid in the 1st quarter valued at about $26,000. Riverview Trust Co bought a new stake in shares of National Grid in the 1st quarter valued at about $26,000. Citizens Financial Group Inc RI bought a new stake in shares of National Grid in the 1st quarter valued at about $28,000. Private Capital Group LLC boosted its holdings in shares of National Grid by 136.8% in the 1st quarter. Private Capital Group LLC now owns 540 shares of the utilities provider’s stock valued at $30,000 after buying an additional 312 shares in the last quarter. Finally, Cornerstone Advisors Inc. boosted its holdings in shares of National Grid by 135.3% in the 1st quarter. Cornerstone Advisors Inc. now owns 553 shares of the utilities provider’s stock valued at $31,000 after buying an additional 318 shares in the last quarter. Institutional investors own 5.70% of the company’s stock.

About National Grid

National Grid plc transmits and distributes electricity and natural gas. It operates through UK Electricity Transmission, UK Gas Transmission, US Regulated, and National Grid Ventures and Other Activities segments. The UK Electricity Transmission segment owns and operates electricity transmission networks, which comprise approximately 7,200 kilometers of overhead lines; 1,560 kilometers of underground cables; and 346 substations in England and Wales, as well as Scottish electricity transmission systems.

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