National Grid (LON:NG) PT Lowered to GBX 1,070

National Grid (LON:NG) had its price objective decreased by research analysts at Berenberg Bank from GBX 1,150 ($15.02) to GBX 1,070 ($13.97) in a research note issued to investors on Monday, MarketBeat reports. The brokerage currently has a “hold” rating on the stock. Berenberg Bank’s price objective indicates a potential upside of 5.16% from the company’s current price.

Other research analysts have also recently issued reports about the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a GBX 1,125 ($14.69) target price on shares of National Grid in a report on Tuesday, June 25th. Citigroup reaffirmed a “top pick” rating on shares of National Grid in a research note on Monday, September 16th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a GBX 1,200 ($15.67) price objective on shares of National Grid in a report on Friday, August 30th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of GBX 1,181.25 ($15.43).

National Grid Stock Performance

LON NG opened at GBX 1,017.50 ($13.29) on Monday. The stock has a market capitalization of £49.76 billion, a price-to-earnings ratio of 1,833.64, a PEG ratio of 2.06 and a beta of 0.25. The business’s 50 day moving average is GBX 1,009.80 and its two-hundred day moving average is GBX 991.04. National Grid has a 12-month low of GBX 645 ($8.42) and a 12-month high of GBX 1,145.50 ($14.96). The company has a current ratio of 0.91, a quick ratio of 0.34 and a debt-to-equity ratio of 161.24.

Insiders Place Their Bets

In related news, insider John Pettigrew bought 220,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was purchased at an average cost of GBX 1,039 ($13.57) per share, for a total transaction of £2,285,800 ($2,984,852.44). In the last ninety days, insiders have acquired 220,316 shares of company stock valued at $228,878,816. Insiders own 0.18% of the company’s stock.

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.