Shares of National Grid plc (NYSE:NGG – Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $66.97, but opened at $65.58. National Grid shares last traded at $66.02, with a volume of 95,449 shares trading hands.
Analyst Upgrades and Downgrades
Several analysts recently commented on the company. Citigroup lowered National Grid from a “buy” rating to a “neutral” rating in a report on Thursday. 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. Finally, Deutsche Bank Aktiengesellschaft started coverage on National Grid in a research report on Wednesday. They issued a “buy” rating for the company. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, National Grid presently has an average rating of “Moderate Buy”.
Check Out Our Latest Stock Analysis on National Grid
National Grid Trading Down 1.0 %
Institutional Trading of National Grid
Several institutional investors and hedge funds have recently bought and sold shares of NGG. RFP Financial Group LLC lifted 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 valued at $25,000 after purchasing an additional 200 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of National Grid during the first quarter valued at approximately $27,000. Richardson Financial Services Inc. acquired a new position in shares of National Grid in the 1st quarter valued at about $28,000. Creekmur Asset Management LLC purchased a new position in National Grid in the fourth quarter valued at about $29,000. Finally, Bessemer Group Inc. bought a new stake in National Grid in the first quarter worth $29,000. Hedge funds and other institutional investors own 4.68% of the company’s stock.
About National Grid
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.
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