National Grid (NYSE:NGG) Rating Increased to Buy at Citigroup

National Grid (NYSE:NGG) was upgraded by research analysts at Citigroup from a “neutral” rating to a “buy” rating in a research note issued on Tuesday,Briefing.com Automated Import reports.

Separately, Deutsche Bank Aktiengesellschaft began coverage on National Grid in a research report on Wednesday, October 2nd. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy”.

National Grid Price Performance

Shares of NYSE NGG opened at $59.57 on Tuesday. The business’s fifty day simple moving average is $60.38 and its 200-day simple moving average is $63.76. National Grid has a 12-month low of $55.13 and a 12-month high of $73.40. The company has a current ratio of 1.61, a quick ratio of 1.54 and a debt-to-equity ratio of 1.18.

Institutional Trading of National Grid

A number of institutional investors have recently bought and sold shares of the business. FMR LLC raised its holdings in National Grid by 77.3% during the third quarter. FMR LLC now owns 3,989,726 shares of the utilities provider’s stock worth $277,964,000 after purchasing an additional 1,739,566 shares in the last quarter. Merewether Investment Management LP acquired a new stake in National Grid during the 3rd quarter worth $66,535,000. Ausbil Investment Management Ltd purchased a new stake in National Grid in the third quarter valued at $62,421,000. Bank of Montreal Can boosted its stake in National Grid by 3.1% in the third quarter. Bank of Montreal Can now owns 553,394 shares of the utilities provider’s stock valued at $38,588,000 after acquiring an additional 16,610 shares in the last quarter. Finally, Mediolanum International Funds Ltd purchased a new position in shares of National Grid during the third quarter worth about $38,021,000. 4.68% of the stock is owned by hedge funds and other institutional investors.

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.