National Grid (NYSE:NGG) Shares Gap Down – Here’s What Happened

National Grid plc (NYSE:NGG) gapped down prior to trading on Wednesday . The stock had previously closed at $62.37, but opened at $60.59. National Grid shares last traded at $60.94, with a volume of 87,292 shares changing hands.

Analyst Ratings Changes

NGG has been the subject of a number of analyst reports. StockNews.com upgraded National Grid from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. Citigroup upgraded shares of National Grid from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 21st. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

National Grid Stock Down 2.6 %

The company has a debt-to-equity ratio of 1.18, a current ratio of 1.61 and a quick ratio of 1.54. The stock has a fifty day moving average of $60.31 and a two-hundred day moving average of $63.48. The firm has a market capitalization of $59.46 billion, a price-to-earnings ratio of 11.69, a P/E/G ratio of 5.64 and a beta of 0.63.

Institutional Trading of National Grid

Several hedge funds have recently added to or reduced their stakes in the stock. Whipplewood Advisors LLC purchased a new stake in National Grid during the fourth quarter valued at about $25,000. Brown Brothers Harriman & Co. grew its stake in National Grid by 67.6% in the 4th quarter. Brown Brothers Harriman & Co. now owns 491 shares of the utilities provider’s stock valued at $29,000 after buying an additional 198 shares in the last quarter. Larson Financial Group LLC raised its holdings in National Grid by 145.6% during the 4th quarter. Larson Financial Group LLC now owns 700 shares of the utilities provider’s stock valued at $42,000 after acquiring an additional 415 shares during the period. Rothschild Investment LLC lifted its position in shares of National Grid by 36.2% during the fourth quarter. Rothschild Investment LLC now owns 723 shares of the utilities provider’s stock worth $43,000 after acquiring an additional 192 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of National Grid during the fourth quarter worth $53,000. 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.