National Grid (NYSE:NGG) Sees Strong Trading Volume

National Grid plc (NYSE:NGG) shares saw strong trading volume on Friday . 408,382 shares were traded during trading, an increase of 5% from the previous session’s volume of 387,950 shares.The stock last traded at $61.56 and had previously closed at $61.72.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NGG. Jefferies Financial Group upgraded shares of National Grid from a “hold” rating to a “buy” rating in a report on Monday, February 5th. StockNews.com upgraded National Grid from a “sell” rating to a “hold” rating in a report on Wednesday, April 3rd. Finally, BNP Paribas upgraded National Grid from an “underperform” rating to an “outperform” rating in a report on Tuesday, April 2nd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,165.00.

National Grid Stock Performance

The company has a 50-day simple moving average of $67.91 and a two-hundred day simple moving average of $66.98. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.93 and a quick ratio of 0.82.

Hedge Funds Weigh In On National Grid

Institutional investors have recently added to or reduced their stakes in the stock. RFP Financial Group LLC raised its stake in shares of National Grid by 119.8% in the first quarter. RFP Financial Group LLC now owns 367 shares of the utilities provider’s stock valued at $25,000 after buying an additional 200 shares during the period. Headlands Technologies LLC purchased a new stake in National Grid during the first quarter valued at about $27,000. Richardson Financial Services Inc. bought a new position in National Grid during the first quarter worth about $28,000. Creekmur Asset Management LLC purchased a new position in shares of National Grid in the fourth quarter worth about $29,000. Finally, Bessemer Group Inc. bought a new stake in shares of National Grid in the first quarter valued at approximately $29,000. Institutional investors own 4.68% of the company’s stock.

About National Grid

National Grid plc transmits and distributes electricity and gas. The company 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.