Citigroup Lowers National Grid (NYSE:NGG) to Neutral

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

Other equities analysts have also recently issued research reports about the company. The Goldman Sachs Group upgraded National Grid from a “neutral” rating to a “buy” rating in a report on Wednesday, June 12th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of National Grid in a research report on Wednesday. They set a “buy” rating on the stock. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

National Grid Stock Performance

NYSE:NGG opened at $68.79 on Thursday. The company has a market cap of $54.58 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 4.89 and a beta of 0.61. National Grid has a 1 year low of $55.13 and a 1 year high of $73.40. The stock’s 50 day simple moving average is $66.66 and its two-hundred day simple moving average is $64.71. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.91 and a quick ratio of 0.84.

Institutional Investors Weigh In On National Grid

Several large investors have recently modified their holdings of the business. Leo Wealth LLC purchased a new position in National Grid during the fourth quarter valued at approximately $1,431,000. BNP Paribas Financial Markets bought a new stake in National Grid during the 1st quarter valued at $1,372,000. Capital International Investors purchased a new position in shares of National Grid in the 1st quarter valued at $86,218,000. Atria Investments Inc raised its position in shares of National Grid by 19.3% in the 1st quarter. Atria Investments Inc now owns 61,319 shares of the utilities provider’s stock worth $4,183,000 after acquiring an additional 9,931 shares in the last quarter. Finally, Gradient Investments LLC lifted its stake in shares of National Grid by 8,101.0% during the 2nd quarter. Gradient Investments LLC now owns 8,283 shares of the utilities provider’s stock worth $470,000 after purchasing an additional 8,182 shares during the last quarter. 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.