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

National Grid plc (NYSE:NGG) shares gapped up before the market opened on Friday . The stock had previously closed at $63.93, but opened at $65.63. National Grid shares last traded at $65.84, with a volume of 231,983 shares trading hands.

Analyst Ratings Changes

Several brokerages have commented on NGG. StockNews.com upgraded shares of National Grid from a “sell” rating to a “hold” rating in a research note on Friday, March 7th. Citigroup upgraded National Grid from a “neutral” rating to a “buy” rating in a research 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 research report on Monday, March 17th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

National Grid Trading Up 2.7 %

The company has a 50 day simple moving average of $61.80 and a two-hundred day simple moving average of $63.09. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.54 and a current ratio of 1.61. The firm has a market cap of $64.24 billion, a PE ratio of 12.62, a P/E/G ratio of 5.64 and a beta of 0.63.

Hedge Funds Weigh In On National Grid

Several hedge funds and other institutional investors have recently bought and sold shares of NGG. Wealth Enhancement Advisory Services LLC lifted its stake in National Grid by 119.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 26,025 shares of the utilities provider’s stock valued at $1,546,000 after acquiring an additional 14,175 shares during the period. Brucke Financial Inc. acquired a new position in National Grid during the fourth quarter valued at $226,000. Vise Technologies Inc. boosted its holdings in 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. Squarepoint Ops LLC grew its position in National Grid by 193.6% during the 4th quarter. Squarepoint Ops LLC now owns 23,093 shares of the utilities provider’s stock worth $1,372,000 after purchasing an additional 15,228 shares during the period. Finally, Two Sigma Investments LP lifted its holdings in shares of National Grid by 8.9% in the 4th quarter. Two Sigma Investments LP now owns 5,100 shares of the utilities provider’s stock valued at $303,000 after buying an additional 417 shares during the period. 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.