Barclays Reiterates Overweight Rating for National Grid (LON:NG)
Several other equities research analysts also recently weighed in on NG. Credit Suisse Group set a GBX 810 ($10.58) target price on shares of National Grid and gave the stock a neutral rating in a research note on Thursday, May 30th. Sanford C. Bernstein set a GBX 950 ($12.41) target price on shares of National Grid and gave the stock a buy rating in a research note on Friday, June 14th. Jefferies Financial Group reaffirmed a hold rating on shares of National Grid in a research note on Tuesday, April 9th. UBS Group reissued a neutral rating and issued a GBX 840 ($10.98) price objective on shares of National Grid in a research report on Thursday, May 16th. Finally, Goldman Sachs Group increased their price objective on shares of National Grid from GBX 875 ($11.43) to GBX 899 ($11.75) and gave the company a neutral rating in a research report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of GBX 909.69 ($11.89).
Shares of NG opened at GBX 847.10 ($11.07) on Wednesday. National Grid has a fifty-two week low of GBX 744.50 ($9.73) and a fifty-two week high of GBX 892 ($11.66). The company has a market cap of $28.52 billion and a P/E ratio of 19.04. The company has a current ratio of 0.87, a quick ratio of 0.58 and a debt-to-equity ratio of 153.93.
In other National Grid news, insider Peter Gershon purchased 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was purchased at an average price of GBX 807 ($10.54) per share, for a total transaction of £484,200 ($632,693.06).
About National Grid
National Grid plc transmits and distributes electricity and natural gas. It operates through UK Electricity Transmission, UK Gas Transmission, US Regulated, and National Grid Ventures and Other Activities segments. The UK Electricity Transmission segment owns and operates electricity transmission networks, which comprise approximately 7,200 kilometers of overhead lines; 1,560 kilometers of underground cables; and 346 substations in England and Wales, as well as Scottish electricity transmission systems.
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