National Grid (NYSE:NGG) Upgraded by Sanford C. Bernstein to Outperform Rating

Sanford C. Bernstein upgraded shares of National Grid (NYSE:NGG) from a market perform rating to an outperform rating in a research note released on Monday morning, Marketbeat.com reports.

A number of other brokerages have also recently commented on NGG. StockNews.com raised National Grid from a “sell” rating to a “hold” rating in a research report on Friday, March 7th. Citigroup upgraded shares of National Grid from a “neutral” rating to a “buy” rating in a report on Tuesday, January 21st. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy”.

National Grid Stock Performance

Shares of NGG opened at $64.18 on Monday. The company has a quick ratio of 1.54, a current ratio of 1.61 and a debt-to-equity ratio of 1.18. The business’s 50 day moving average price is $60.81 and its 200-day moving average price is $63.22. National Grid has a 52 week low of $54.24 and a 52 week high of $72.21. The stock has a market cap of $62.80 billion, a P/E ratio of 12.34, a P/E/G ratio of 5.64 and a beta of 0.63.

Hedge Funds Weigh In On National Grid

A number of hedge funds have recently added to or reduced their stakes in NGG. FMR LLC raised its holdings in National Grid by 77.3% in the 3rd quarter. FMR LLC now owns 3,989,726 shares of the utilities provider’s stock worth $277,964,000 after acquiring an additional 1,739,566 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in National Grid during the 4th quarter valued at $67,324,000. Merewether Investment Management LP purchased a new stake in National Grid during the 3rd quarter valued at $66,535,000. ABC Arbitrage SA purchased a new stake in National Grid during the 4th quarter valued at $21,706,000. Finally, D. E. Shaw & Co. Inc. raised its stake in National Grid by 5,134.3% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 330,706 shares of the utilities provider’s stock valued at $19,651,000 after buying an additional 324,388 shares during the last quarter. 4.68% of the stock is currently owned by hedge funds and other 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.