Economy

National Grid plc (NG) Stock Rating Reaffirmed by Deutsche Bank AG

National Grid plc (NG) Stock Rating Reaffirmed by Deutsche Bank AG”

Zacks Investment Research upgraded National Grid Transco, PLC from a "strong sell" rating to a "hold" rating in a research note on Tuesday.

Full year performance in the USA business is expected to improve driven by a full year of new rates in its downstate NY gas and Massachusetts Electric businesses, National Grid said.

Profit from its U.S. Regulated business, which operates electric transmission facilities and gas distribution network in some U.S. states, rose 19.2 percent to 526 million pounds, topping estimates of 443 million. In the USA they are one of the top ten electricity companies, with the largest electricity transmission and distribution network in the New England/New York region.

A number of other research firms also recently commented on NGG. Morgan Stanley reduced their price objective on National Grid plc from GBX 1,125 ($14.80) to GBX 1,100 ($14.47) and set an "overweight" rating for the company in a research note on Tuesday, July 18th. BidaskClub raised shares of National Grid Transco, PLC from a "sell" rating to a "hold" rating in a research note on Monday, July 24th. Finally, HSBC Holdings plc raised shares of National Grid Transco, PLC from a "hold" rating to a "buy" rating in a research note on Thursday, July 13th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company's stock. Goldman Sachs Group Inc.'s price target suggests a potential downside of 7.70% from the stock's current price. The stock had a trading volume of 367,192 shares, compared to its average volume of 367,461. National Grid Transco, PLC has a 1-year low of $59.64 and a 1-year high of $75.24. If you happen to be reading this article on another website, it was stolen and illegally republished in violation of USA and global copyright law. Institutional investors own 5.14% of the company's stock.

Dynamic Technology Lab Private Ltd acquired a new position in shares of National Grid Transco, PLC (NYSE:NGG) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. Wellington Management Group LLP boosted its position in National Grid Transco, PLC by 2.2% during the 1st quarter. Miller Howard Investments Inc. Fairfield Bush & CO. now owns 9,582 shares of the utilities provider's stock valued at $602,000 after buying an additional 4,772 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in National Grid Transco, PLC by 30.3% during the 2nd quarter. Ballentine Partners LLC now owns 4,480 shares of the utilities provider's stock worth $277,000 after purchasing an additional 60 shares during the period.

British power grid operator National Grid Plc reported a slightly worse-than-expected fall in half-year profit on Thursday hurt by weakness in its United Kingdom electricity transmission business.



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