Today, National Grid PLC (NGG) Now Covered by Analysts at Goldman Sachs Group Inc.

Today, National Grid PLC (NGG) Now Covered by Analysts at Goldman Sachs Group Inc.

Equities research analysts at Goldman Sachs Group Inc. assumed coverage on shares of National Grid PLC (NYSE:NGG) in a research note issued on Tuesday, The Fly reports. The brokerage set a “sell” rating on the stock.

A number of other equities analysts have also recently issued reports on the company. Zacks Investment Research cut National Grid PLC from a “buy” rating to a “hold” rating in a report on Wednesday, November 9th. Beaufort Securities restated a “buy” rating on shares of National Grid PLC in a report on Sunday, August 21st. Sanford C. Bernstein cut National Grid PLC from an “outperform” rating to a “market perform” rating in a report on Wednesday, September 7th. Jefferies Group reiterated a “hold” rating on shares of National Grid PLC in a report on Friday, September 23rd. Finally, Citigroup Inc. reiterated a “neutral” rating on shares of National Grid PLC in a report on Wednesday, August 3rd. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. National Grid PLC has an average rating of “Hold” and an average target price of $76.50.

Shares of National Grid PLC (NYSE:NGG) opened at 58.35 on Tuesday. The firm’s 50-day moving average price is $62.59 and its 200-day moving average price is $69.30. National Grid PLC has a 12 month low of $57.29 and a 12 month high of $74.97. The company has a market cap of $43.91 billion, a PE ratio of 17.42 and a beta of 0.50.

The company also recently announced a dividend, which will be paid on Wednesday, January 11th. Investors of record on Friday, November 25th will be given a $0.933 dividend. The ex-dividend date is Tuesday, November 22nd.

A number of large investors have recently made changes to their positions in NGG. Cambiar Investors LLC raised its stake in shares of National Grid PLC by 4.4% in the second quarter. Cambiar Investors LLC now owns 2,183,030 shares of the company’s stock worth $162,265,000 after buying an additional 92,346 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of National Grid PLC by 22.0% in the third quarter. Ameriprise Financial Inc. now owns 2,091,464 shares of the company’s stock worth $148,989,000 after buying an additional 377,684 shares in the last quarter. Raymond James & Associates raised its stake in shares of National Grid PLC by 7.9% in the second quarter. Raymond James & Associates now owns 1,884,654 shares of the company’s stock worth $140,086,000 after buying an additional 137,687 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of National Grid PLC by 1.8% in the third quarter. Wells Fargo & Company MN now owns 1,791,772 shares of the company’s stock worth $127,414,000 after buying an additional 31,014 shares in the last quarter. Finally, Hennessy Advisors Inc. raised its stake in shares of National Grid PLC by 6.6% in the second quarter. Hennessy Advisors Inc. now owns 1,070,558 shares of the company’s stock worth $79,575,000 after buying an additional 66,500 shares in the last quarter. 5.71% of the stock is currently owned by institutional investors and hedge funds.

About National Grid PLC

National Grid Plc is an electricity and gas utility company. The UK Electricity Transmission includes high voltage electricity transmission networks in Great Britain. Its UK Gas Transmission provides the gas transmission network in Great Britain and UK liquefied natural gas (LNG) storage activities. The Company’s UK Gas Distribution includes four of the eight regional networks of Great Britain’s gas distribution system.

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