National Grid (NYSE:NGG) Receives New Coverage from Analysts at Deutsche Bank Aktiengesellschaft

Research analysts at Deutsche Bank Aktiengesellschaft began coverage on shares of National Grid (NYSE:NGG) in a research note issued on Wednesday, StockNewsAPI reports. The brokerage set a “buy” rating on the utilities provider’s stock.

Separately, The Goldman Sachs Group upgraded shares of National Grid from a “neutral” rating to a “buy” rating in a report on Wednesday, June 12th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

National Grid Stock Down 1.6 %

NGG traded down $1.10 on Wednesday, hitting $68.95. The company had a trading volume of 207,293 shares, compared to its average volume of 542,802. The stock has a fifty day simple moving average of $66.54 and a 200-day simple moving average of $64.68. National Grid has a 52-week low of $55.13 and a 52-week high of $73.40. The firm has a market capitalization of $54.71 billion, a P/E ratio of 14.10, a P/E/G ratio of 4.89 and a beta of 0.61. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.91 and a quick ratio of 0.84.

Hedge Funds Weigh In On National Grid

Hedge funds have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. lifted its position in National Grid by 5.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 1,286,459 shares of the utilities provider’s stock valued at $87,466,000 after acquiring an additional 70,730 shares during the last quarter. Capital International Investors acquired a new stake in shares of National Grid in the first quarter valued at about $86,218,000. Hsbc Holdings PLC grew its position in shares of National Grid by 11,704.2% in the second quarter. Hsbc Holdings PLC now owns 650,060 shares of the utilities provider’s stock valued at $36,917,000 after purchasing an additional 644,553 shares during the period. Bank of Montreal Can lifted its stake in shares of National Grid by 20.3% in the second quarter. Bank of Montreal Can now owns 536,784 shares of the utilities provider’s stock worth $31,005,000 after buying an additional 90,722 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in National Grid during the second quarter worth about $29,097,000. 4.68% of the stock is currently owned by institutional investors.

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.