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

National Grid plc (NYSE:NGG) shares 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 traded.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on NGG shares. Citigroup reaffirmed a “neutral” rating on shares of National Grid in a research report on Tuesday, May 6th. Sanford C. Bernstein raised shares of National Grid from a “market perform” rating to an “outperform” rating in a research report on Monday, March 17th. StockNews.com raised shares of National Grid from a “sell” rating to a “hold” rating in a research report on Wednesday, April 30th. Finally, UBS Group cut shares of National Grid from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 29th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, National Grid has a consensus rating of “Moderate Buy”.

National Grid Price Performance

The stock’s 50-day moving average is $67.16 and its 200 day moving average is $63.33. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.61 and a quick ratio of 1.54. The company has a market cap of $66.19 billion, a PE ratio of 13.00, a PEG ratio of 5.64 and a beta of 0.63.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. increased its stake in National Grid by 24.2% during the 4th quarter. Oppenheimer & Co. Inc. now owns 4,455 shares of the utilities provider’s stock valued at $265,000 after purchasing an additional 868 shares in the last quarter. Atria Wealth Solutions Inc. acquired a new position in National Grid during the 4th quarter valued at approximately $239,000. Hennion & Walsh Asset Management Inc. acquired a new position in National Grid during the 4th quarter valued at approximately $411,000. JCIC Asset Management Inc. acquired a new position in National Grid during the 4th quarter valued at approximately $1,854,000. Finally, Burney Co. acquired a new position in National Grid during the 4th quarter valued at approximately $604,000. 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.