National Grid (NYSE:NGG) Upgraded at Sanford C. Bernstein

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

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

National Grid Stock Down 0.0 %

Shares of NYSE:NGG opened at $63.80 on Monday. The firm’s 50 day moving average price is $61.03 and its 200 day moving average price is $63.21. The stock has a market cap of $62.42 billion, a price-to-earnings ratio of 12.27, a price-to-earnings-growth ratio of 5.64 and a beta of 0.63. National Grid has a fifty-two week low of $54.24 and a fifty-two week high of $72.21. The company has a quick ratio of 1.54, a current ratio of 1.61 and a debt-to-equity ratio of 1.18.

Hedge Funds Weigh In On National Grid

Several hedge funds have recently added to or reduced their stakes in the stock. FMR LLC grew its position in shares of National Grid by 77.3% during the third 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 position in shares of National Grid during the fourth quarter worth approximately $67,324,000. Merewether Investment Management LP purchased a new position in shares of National Grid during the third quarter worth approximately $66,535,000. ABC Arbitrage SA purchased a new position in shares of National Grid during the fourth quarter worth approximately $21,706,000. Finally, D. E. Shaw & Co. Inc. grew its position in shares of National Grid by 5,134.3% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 330,706 shares of the utilities provider’s stock worth $19,651,000 after acquiring 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.