National Grid (NYSE:NGG) Shares Gap Down to $70.05

National Grid plc (NYSE:NGG) shares gapped down before the market opened on Thursday . The stock had previously closed at $70.05, but opened at $68.25. National Grid shares last traded at $67.93, with a volume of 60,524 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. The Goldman Sachs Group upgraded shares of National Grid from a “neutral” rating to a “buy” rating in a research report on Wednesday, June 12th. Citigroup upgraded shares of National Grid from a “neutral” rating to a “buy” rating in a research note on Monday, June 3rd. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, National Grid presently has a consensus rating of “Moderate Buy”.

National Grid Price Performance

The company has a debt-to-equity ratio of 1.41, a current ratio of 0.91 and a quick ratio of 0.84. The firm has a fifty day moving average of $65.08 and a two-hundred day moving average of $64.59. The stock has a market capitalization of $54.60 billion, a P/E ratio of 14.36, a P/E/G ratio of 4.81 and a beta of 0.61.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Sanctuary Advisors LLC acquired a new position in shares of National Grid in the 2nd quarter valued at $1,558,000. The Manufacturers Life Insurance Company increased its holdings in National Grid by 17.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 480,271 shares of the utilities provider’s stock worth $27,279,000 after buying an additional 71,833 shares during the period. Marshall Wace LLP purchased a new position in National Grid during the 2nd quarter worth approximately $29,097,000. Bank of Montreal Can boosted its holdings in shares of National Grid by 20.3% in the 2nd quarter. Bank of Montreal Can now owns 536,784 shares of the utilities provider’s stock valued at $31,005,000 after acquiring an additional 90,722 shares during the last quarter. Finally, Profund Advisors LLC raised its holdings in shares of National Grid by 3.0% during the second quarter. Profund Advisors LLC now owns 7,003 shares of the utilities provider’s stock worth $398,000 after purchasing an additional 203 shares during the last quarter. 4.68% of the stock is owned by 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.