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

National Grid plc (NYSE:NGG)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $70.69, but opened at $67.95. National Grid shares last traded at $67.79, with a volume of 151,058 shares.

Analyst Upgrades and Downgrades

NGG has been the topic of a number of research reports. Citigroup reiterated a “neutral” rating on shares of National Grid in a research note on Tuesday, May 6th. Sanford C. Bernstein upgraded shares of National Grid from a “market perform” rating to an “outperform” rating in a research note on Monday, March 17th. StockNews.com upgraded shares of National Grid from a “sell” rating to a “hold” rating in a research note on Wednesday, April 30th. Finally, UBS Group lowered shares of National Grid from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 29th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, National Grid has a consensus rating of “Moderate Buy”.

National Grid Price Performance

The stock’s fifty day moving average is $67.16 and its 200-day moving average is $63.33. The stock has a market capitalization of $66.19 billion, a PE ratio of 13.00, a P/E/G ratio of 5.64 and a beta of 0.63. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.61 and a quick ratio of 1.54.

Institutional Trading of National Grid

A number of hedge funds have recently added to or reduced their stakes in NGG. GAMMA Investing LLC boosted its holdings in National Grid by 22.3% during the fourth quarter. GAMMA Investing LLC now owns 1,229 shares of the utilities provider’s stock worth $73,000 after buying an additional 224 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in National Grid by 2.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,125 shares of the utilities provider’s stock valued at $720,000 after purchasing an additional 275 shares in the last quarter. JCIC Asset Management Inc. purchased a new position in National Grid during the fourth quarter valued at $1,854,000. Eastern Bank lifted its holdings in National Grid by 52.7% during the fourth quarter. Eastern Bank now owns 927 shares of the utilities provider’s stock valued at $55,000 after purchasing an additional 320 shares in the last quarter. Finally, Park Avenue Securities LLC lifted its holdings in National Grid by 27.5% during the fourth quarter. Park Avenue Securities LLC now owns 29,802 shares of the utilities provider’s stock valued at $1,771,000 after purchasing an additional 6,423 shares in the last quarter. 4.68% of the stock is owned by hedge funds and other institutional investors.

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.