National Grid (NYSE:NGG) Shares Gap Up – Should You Buy?

Shares of National Grid plc (NYSE:NGG) gapped up prior to trading on Thursday . The stock had previously closed at $65.78, but opened at $70.30. National Grid shares last traded at $69.89, with a volume of 300,907 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NGG. StockNews.com raised shares of National Grid from a “sell” rating to a “hold” rating in a report on Friday, March 7th. Sanford C. Bernstein raised National Grid from a “market perform” rating to an “outperform” rating in a research report on Monday, March 17th. Finally, Citigroup raised National Grid from a “neutral” rating to a “buy” rating in a report on Tuesday, January 21st. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, National Grid currently has an average rating of “Moderate Buy”.

National Grid Trading Down 4.9 %

The firm’s fifty day simple moving average is $62.53 and its 200 day simple moving average is $62.97. The stock has a market capitalization of $64.59 billion, a P/E ratio of 12.69, a price-to-earnings-growth ratio of 5.64 and a beta of 0.63. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.54 and a current ratio of 1.61.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in NGG. Raymond James Financial Inc. bought a new position in shares of National Grid in the 4th quarter valued at $67,324,000. FMR LLC grew its position in National Grid by 11.9% in the fourth quarter. FMR LLC now owns 4,462,898 shares of the utilities provider’s stock valued at $265,185,000 after acquiring an additional 473,172 shares during the last quarter. ABC Arbitrage SA acquired a new position in National Grid during the fourth quarter worth about $21,706,000. D. E. Shaw & Co. Inc. raised its stake in National Grid by 5,134.3% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 330,706 shares of the utilities provider’s stock worth $19,651,000 after acquiring an additional 324,388 shares in the last quarter. Finally, Guardian Partners Inc. bought a new position in shares of National Grid in the fourth quarter worth about $9,849,000. 4.68% of the stock is currently owned by institutional investors and hedge funds.

National Grid Company Profile

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.