National Grid (NYSE:NGG) Upgraded at Sanford C. Bernstein

National Grid (NYSE:NGG) was upgraded by Sanford C. Bernstein from a “market perform” rating to an “outperform” rating in a report released on Monday, Marketbeat.com reports.

NGG has been the topic of several other reports. Citigroup raised National Grid from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 21st. StockNews.com upgraded National Grid from a “sell” rating to a “hold” rating in a research note on Friday, March 7th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy”.

National Grid Price Performance

Shares of NYSE:NGG opened at $63.25 on Monday. National Grid has a twelve month low of $54.24 and a twelve month high of $72.21. The company has a current ratio of 1.61, a quick ratio of 1.54 and a debt-to-equity ratio of 1.18. The company has a market cap of $61.89 billion, a PE ratio of 12.16, a price-to-earnings-growth ratio of 5.64 and a beta of 0.63. The company’s 50 day moving average is $60.70 and its 200 day moving average is $63.24.

Hedge Funds Weigh In On National Grid

Several hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC boosted its stake in National Grid by 11.9% during the fourth quarter. FMR LLC now owns 4,462,898 shares of the utilities provider’s stock worth $265,185,000 after buying an additional 473,172 shares during the last quarter. JPMorgan Chase & Co. increased its position in National Grid by 5.1% during the fourth quarter. JPMorgan Chase & Co. now owns 1,405,185 shares of the utilities provider’s stock worth $83,496,000 after purchasing an additional 68,587 shares during the last quarter. Raymond James Financial Inc. purchased a new position in National Grid during the fourth quarter worth about $67,324,000. Merewether Investment Management LP boosted its holdings in National Grid by 10.3% in the 4th quarter. Merewether Investment Management LP now owns 1,053,461 shares of the utilities provider’s stock valued at $62,597,000 after purchasing an additional 98,461 shares during the last quarter. Finally, LPL Financial LLC grew its stake in shares of National Grid by 3.3% in the 4th quarter. LPL Financial LLC now owns 781,572 shares of the utilities provider’s stock valued at $46,441,000 after buying an additional 25,082 shares during the period. Hedge funds and other institutional investors own 4.68% of the company’s stock.

About National Grid

National Grid plc transmits and distributes electricity and gas. It operates through UK Electricity Transmission, UK Electricity Distribution, UK Electricity System Operator, New England, New York, National Grid Ventures, and Other segments. The UK Electricity Transmission segment provides electricity transmission and construction work services in England and Wales.