National Grid PLC (NYSE:NGG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

According to Zacks, “NATIONAL GRID -ADR is an international energy delivery business, whose principal activities are in the regulated electricity and gas industries. They own and operate the high-voltage electricity transmission network in England and Wales, and Britain’s natural gas transportation system. In the US they are one of the top ten electricity companies, with the largest electricity transmission and distribution network in the New England/New York region. “

A number of other equities analysts also recently commented on the company. Jefferies Group restated a “hold” rating on shares of National Grid PLC in a report on Friday, September 23rd. Sanford C. Bernstein downgraded National Grid PLC from an “outperform” rating to a “market perform” rating in a report on Wednesday, September 7th. Beaufort Securities restated a “buy” rating on shares of National Grid PLC in a report on Sunday, August 21st. Barclays PLC restated an “overweight” rating on shares of National Grid PLC in a report on Sunday, August 21st. Finally, Citigroup Inc. restated a “neutral” rating on shares of National Grid PLC in a report on Wednesday, August 3rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $76.50.

Analyst Recommendations for National Grid PLC (NYSE:NGG)

Shares of National Grid PLC (NYSE:NGG) opened at 60.09 on Wednesday. The firm has a market capitalization of $45.03 billion, a PE ratio of 14.04 and a beta of 0.50. National Grid PLC has a 12-month low of $58.07 and a 12-month high of $74.97. The company has a 50-day moving average of $66.37 and a 200 day moving average of $70.44.

Several large investors have recently made changes to their positions in the company. Quantbot Technologies LP bought a new stake in shares of National Grid PLC during the third quarter valued at about $138,000. Integrated Investment Consultants LLC increased its stake in shares of National Grid PLC by 1.8% in the second quarter. Integrated Investment Consultants LLC now owns 2,046 shares of the company’s stock valued at $152,000 after buying an additional 36 shares during the last quarter. O Shaughnessy Asset Management LLC increased its stake in shares of National Grid PLC by 1.2% in the second quarter. O Shaughnessy Asset Management LLC now owns 2,273 shares of the company’s stock valued at $169,000 after buying an additional 28 shares during the last quarter. Cornerstone Advisors Inc. increased its stake in shares of National Grid PLC by 5,054.3% in the third quarter. Cornerstone Advisors Inc. now owns 2,371 shares of the company’s stock valued at $169,000 after buying an additional 2,325 shares during the last quarter. Finally, Pinkerton Retirement Specialists LLC bought a new stake in shares of National Grid PLC during the second quarter valued at about $185,000. Institutional investors and hedge funds own 6.00% of the company’s stock.

About National Grid PLC

National Grid Plc is an electricity and gas utility company. The UK Electricity Transmission includes high voltage electricity transmission networks in Great Britain. Its UK Gas Transmission provides the gas transmission network in Great Britain and UK liquefied natural gas (LNG) storage activities. The Company’s UK Gas Distribution includes four of the eight regional networks of Great Britain’s gas distribution system.

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