National Grid (NYSE:NGG) Shares Gap Up – Here’s What Happened

National Grid plc (NYSE:NGG) shares gapped up prior to trading on Thursday . The stock had previously closed at $65.78, but opened at $70.30. National Grid shares last traded at $69.89, with a volume of 300,907 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. StockNews.com upgraded shares of National Grid from a “sell” rating to a “hold” rating in a research report on Friday, March 7th. Citigroup raised National Grid from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 21st. Finally, Sanford C. Bernstein raised National Grid from a “market perform” rating to an “outperform” rating in a report on Monday, March 17th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

National Grid Stock Up 5.7 %

The business has a 50-day moving average price of $62.24 and a 200-day moving average price of $62.95. The company has a market capitalization of $68.05 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 5.64 and a beta of 0.63. The company has a quick ratio of 1.54, a current ratio of 1.61 and a debt-to-equity ratio of 1.18.

Institutional Trading of National Grid

A number of institutional investors have recently bought and sold shares of NGG. Raymond James Financial Inc. bought a new stake in National Grid in the fourth quarter worth $67,324,000. Merewether Investment Management LP acquired a new position in National Grid in the 3rd quarter valued at $66,535,000. FMR LLC boosted its holdings in National Grid by 11.9% during the fourth quarter. FMR LLC now owns 4,462,898 shares of the utilities provider’s stock valued at $265,185,000 after acquiring an additional 473,172 shares during the period. ABC Arbitrage SA acquired 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 stake in shares of National Grid by 5,134.3% in 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. Institutional investors and hedge funds own 4.68% 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.