Morgan Stanley Cuts National Grid plc (NG) Price Target to GBX 1,100
National Grid plc (LON:NG) had its price target reduced by investment analysts at Morgan Stanley from GBX 1,125 ($14.69) to GBX 1,100 ($14.36) in a research report issued to clients and investors on Tuesday, MarketBeat reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 16.34% from the company’s previous close.
Several other equities analysts also recently commented on the stock. HSBC Holdings plc restated a “buy” rating and issued a GBX 1,060 ($13.84) price target on shares of National Grid plc in a research note on Thursday, April 13th. Credit Suisse Group restated an “underperform” rating and issued a GBX 850 ($11.10) price target on shares of National Grid plc in a research note on Tuesday, April 18th. Citigroup Inc. set a GBX 1,126 ($14.70) price target on shares of National Grid plc and gave the stock a “buy” rating in a research note on Tuesday, June 20th. Deutsche Bank AG restated a “sell” rating and issued a GBX 950 ($12.41) price target on shares of National Grid plc in a research note on Wednesday, June 14th. Finally, J P Morgan Chase & Co restated an “overweight” rating and issued a GBX 1,100 ($14.36) price target on shares of National Grid plc in a research note on Friday, March 24th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of GBX 1,014.80 ($13.25).
Shares of National Grid plc (LON NG) opened at 953.10 on Tuesday. National Grid plc has a 12-month low of GBX 921.20 and a 12-month high of GBX 1,229.82. The firm’s 50-day moving average price is GBX 984.90 and its 200-day moving average price is GBX 1,051.28. The stock’s market cap is GBX 32.80 billion.
In related news, insider Andrew R. J. Bonfield sold 22,191 shares of the business’s stock in a transaction on Monday, June 19th. The shares were sold at an average price of GBX 1,021 ($13.33), for a total value of £226,570.11 ($295,860.68). Also, insider Dean Seavers purchased 4,574 shares of National Grid plc stock in a transaction that occurred on Thursday, June 15th. The stock was bought at an average cost of GBX 1,020 ($13.32) per share, with a total value of £46,654.80 ($60,922.96). Over the last ninety days, insiders have bought 4,616 shares of company stock valued at $4,707,424.
About National Grid plc
National Grid plc is an electricity and gas utility company focused on transmission and distribution activities in electricity and gas in both the United Kingdom and the United States. The Company’s segments include UK Electricity Transmission, which is engaged in high voltage electricity transmission networks in Great Britain; UK Gas Transmission, which is the gas transmission network in Great Britain and United Kingdom liquefied natural gas (LNG) storage activities; UK Gas Distribution, which includes approximately four of the eight regional networks of Great Britain’s gas distribution system, and US Regulated, which includes gas distribution networks, electricity distribution networks and high voltage electricity transmission networks in New York, and New England and electricity generation facilities in New York.
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