National Grid (NYSE:NGG) Downgraded by Citigroup

National Grid (NYSE:NGG) was downgraded by equities research analysts at Citigroup from a “buy” rating to a “neutral” rating in a research note issued to investors on Thursday, FinViz reports.

Several other research firms also recently weighed in on NGG. Deutsche Bank Aktiengesellschaft assumed coverage on shares of National Grid in a report on Wednesday. They issued a “buy” rating for the company. The Goldman Sachs Group raised shares of National Grid from a “neutral” rating to a “buy” rating in a research note on Wednesday, June 12th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

National Grid Stock Down 1.8 %

Shares of National Grid stock opened at $68.79 on Thursday. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.91 and a quick ratio of 0.84. National Grid has a 1-year low of $55.13 and a 1-year high of $73.40. The business’s fifty day moving average price is $66.66 and its two-hundred day moving average price is $64.71. The company has a market capitalization of $54.58 billion, a P/E ratio of 14.04, a PEG ratio of 4.89 and a beta of 0.61.

Institutional Trading of National Grid

Institutional investors have recently modified their holdings of the company. RFP Financial Group LLC grew its stake in shares of National Grid by 119.8% in the 1st quarter. RFP Financial Group LLC now owns 367 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 200 shares during the last quarter. Headlands Technologies LLC acquired a new position in National Grid in the first quarter worth approximately $27,000. Richardson Financial Services Inc. acquired a new position in National Grid in the first quarter worth approximately $28,000. Bessemer Group Inc. bought a new position in shares of National Grid in the first quarter valued at $29,000. Finally, Creekmur Asset Management LLC acquired a new stake in shares of National Grid during the 4th quarter valued at $29,000. Institutional investors and hedge funds own 4.68% of the company’s stock.

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.