National Grid (NYSE:NGG) Shares Gap Up – What’s Next?

National Grid plc (NYSE:NGG)’s stock price 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.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on NGG shares. StockNews.com upgraded National Grid from a “sell” rating to a “hold” rating in a report on Friday, March 7th. Citigroup raised National Grid from a “neutral” rating to a “buy” rating in a report on Tuesday, January 21st. Finally, Sanford C. Bernstein upgraded shares of 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 given a buy rating to the stock. According to MarketBeat.com, National Grid has a consensus rating of “Moderate Buy”.

National Grid Price Performance

The company’s 50 day moving average is $62.53 and its 200-day moving average is $62.97. The firm has a market capitalization of $64.59 billion, a price-to-earnings ratio of 12.69, a P/E/G ratio of 5.64 and a beta of 0.63. The company has a current ratio of 1.61, a quick ratio of 1.54 and a debt-to-equity ratio of 1.18.

Institutional Trading of National Grid

A number of hedge funds have recently made changes to their positions in the business. Versant Capital Management Inc raised its position in shares of National Grid by 3,148.2% in the first quarter. Versant Capital Management Inc now owns 6,269 shares of the utilities provider’s stock valued at $411,000 after purchasing an additional 6,076 shares during the period. Marcum Wealth LLC bought a new position in National Grid in the 1st quarter valued at about $209,000. Wealth Enhancement Advisory Services LLC lifted its position in National Grid by 119.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 26,025 shares of the utilities provider’s stock worth $1,546,000 after acquiring an additional 14,175 shares during the last quarter. Brucke Financial Inc. bought a new stake in shares of National Grid during the fourth quarter worth approximately $226,000. Finally, Vise Technologies Inc. grew its position in shares of National Grid by 30.0% in the fourth quarter. Vise Technologies Inc. now owns 11,046 shares of the utilities provider’s stock valued at $656,000 after purchasing an additional 2,550 shares during the last quarter. 4.68% of the stock is owned by institutional investors and hedge funds.

About National Grid

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.