National Grid (NYSE:NGG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday, Zacks.com reports. The brokerage presently has a $82.00 price objective on the utilities provider’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 11.34% from the stock’s current price.
According to Zacks, “NATIONAL GRID -ADR is an international energy delivery business, whose principal activities are in the regulated electricity and gas industries. They own and operate the high-voltage electricity transmission network in England and Wales, and Britain’s natural gas transportation system. In the US they are one of the top ten electricity companies, with the largest electricity transmission and distribution network in the New England/New York region. “
NGG has been the subject of several other reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of National Grid in a research note on Thursday, December 2nd. Sanford C. Bernstein downgraded National Grid from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $1,120.00 to $1,105.00 in a report on Monday. Credit Suisse Group restated an “outperform” rating on shares of National Grid in a report on Friday, November 26th. Bernstein Bank downgraded National Grid from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from 1,120.00 to 1,105.00 in a report on Monday. Finally, UBS Group reaffirmed a “buy” rating on shares of National Grid in a research report on Monday, November 22nd. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $764.00.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mascoma Wealth Management LLC purchased a new position in shares of National Grid in the 3rd quarter valued at about $26,000. Advisory Services Network LLC purchased a new stake in National Grid during the 2nd quarter worth approximately $28,000. Carmichael Hill & Associates Inc. increased its stake in National Grid by 46.0% during the 3rd quarter. Carmichael Hill & Associates Inc. now owns 730 shares of the utilities provider’s stock worth $44,000 after buying an additional 230 shares in the last quarter. Vigilant Capital Management LLC purchased a new stake in National Grid during the 4th quarter worth approximately $46,000. Finally, Strategic Blueprint LLC purchased a new stake in National Grid during the 2nd quarter worth approximately $53,000. Institutional investors and hedge funds own 3.49% of the company’s stock.
About National Grid
National Grid Plc engages in the transmission and distribution of electricity and gas. It operates through the following segments: UK Electricity Transmission, UK Gas Transmission, U.S. Regulated, and National Grid Ventures and Other. The UK Electricity Transmission segment focuses on the electricity transmission networks in England and Wales and Great Britain system operator.
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