Citigroup Upgrades National Grid (NYSE:NGG) to “Buy”

National Grid (NYSE:NGG) was upgraded by stock analysts at Citigroup from a “neutral” rating to a “buy” rating in a note issued to investors on Tuesday,Briefing.com Automated Import reports.

Separately, Deutsche Bank Aktiengesellschaft assumed coverage on shares of National Grid in a research note on Wednesday, October 2nd. They set a “buy” rating for the company. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

National Grid Stock Performance

NGG stock opened at $59.57 on Tuesday. National Grid has a 12 month low of $55.13 and a 12 month high of $73.40. The company has a current ratio of 1.61, a quick ratio of 1.54 and a debt-to-equity ratio of 1.18. The company has a fifty day moving average price of $60.38 and a 200 day moving average price of $63.76.

Hedge Funds Weigh In On National Grid

Large investors have recently bought and sold shares of the company. Fortitude Family Office LLC purchased a new stake in shares of National Grid in the third quarter valued at about $37,000. Eastern Bank purchased a new stake in National Grid in the 3rd quarter valued at approximately $42,000. Quantbot Technologies LP purchased a new stake in National Grid in the 3rd quarter valued at approximately $60,000. Addison Advisors LLC increased its position in National Grid by 267.9% during the 3rd quarter. Addison Advisors LLC now owns 986 shares of the utilities provider’s stock worth $69,000 after purchasing an additional 718 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of National Grid by 45.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,005 shares of the utilities provider’s stock worth $70,000 after buying an additional 314 shares in the last quarter. Hedge funds and other institutional investors 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.