National Grid (LON:NG) Stock Price Down 1.8% – Here’s Why

Shares of National Grid plc (LON:NG) traded down 1.8% during mid-day trading on Wednesday . The company traded as low as GBX 1,253.80 and last traded at GBX 1,253.80. 8,808,004 shares changed hands during trading, The stock had previously closed at GBX 1,276.40.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft cut their target price on National Grid from GBX 1,430 to GBX 1,370 and set a “buy” rating for the company in a research note on Wednesday, April 1st. JPMorgan Chase & Co. boosted their target price on National Grid from GBX 1,250 to GBX 1,450 and gave the stock an “overweight” rating in a research report on Wednesday, April 1st. Citigroup boosted their target price on National Grid from GBX 1,150 to GBX 1,200 and gave the stock a “neutral” rating in a research report on Monday, January 26th. Finally, Jefferies Financial Group cut National Grid to a “hold” rating and set a GBX 1,410 price target for the company. in a research report on Wednesday, March 18th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, National Grid has an average rating of “Moderate Buy” and an average price target of GBX 1,326.

National Grid Trading Up 1.0%

The firm has a market cap of £63.20 billion, a PE ratio of 21.15, a PEG ratio of 2.06 and a beta of 0.64. The business has a 50-day moving average price of GBX 1,321.63 and a two-hundred day moving average price of GBX 1,216.83. The company has a debt-to-equity ratio of 123.46, a current ratio of 0.97 and a quick ratio of 0.34.

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. The UK Electricity Distribution segment offers electricity distribution services in Midlands, and South West of England and South Wales.