National Grid (NYSE:NGG) Hits New 52-Week High - Here's Why

National Grid plc (NYSE:NGG - Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $74.82 and last traded at $74.39, with a volume of 1466652 shares changing hands. The stock had previously closed at $72.90.

Analysts Set New Price Targets

A number of research firms recently weighed in on NGG. Citigroup upgraded shares of National Grid from a "neutral" rating to a "buy" rating in a research note on Tuesday, January 21st. StockNews.com downgraded shares of National Grid from a "hold" rating to a "sell" rating in a research report on Tuesday. Finally, 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. One analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy".

National Grid Trading Up 2.0 %

The company has a market cap of $72.78 billion, a price-to-earnings ratio of 14.31, a PEG ratio of 5.64 and a beta of 0.58. The company has a quick ratio of 1.54, a current ratio of 1.61 and a debt-to-equity ratio of 1.18. The business's fifty day simple moving average is $64.45 and its two-hundred day simple moving average is $62.87.

Institutional Investors Weigh In On National Grid

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Whipplewood Advisors LLC acquired a new stake in shares of National Grid during the fourth quarter worth about $25,000. Brown Brothers Harriman & Co. increased its position in National Grid by 67.6% during the fourth quarter. Brown Brothers Harriman & Co. now owns 491 shares of the utilities provider's stock worth $29,000 after buying an additional 198 shares during the period. SJS Investment Consulting Inc. purchased a new stake in National Grid in the first quarter valued at approximately $29,000. Larson Financial Group LLC boosted its holdings in shares of National Grid by 145.6% in the fourth quarter. Larson Financial Group LLC now owns 700 shares of the utilities provider's stock valued at $42,000 after acquiring an additional 415 shares during the period. Finally, Rothschild Investment LLC grew its position in shares of National Grid by 36.2% during the fourth quarter. Rothschild Investment LLC now owns 723 shares of the utilities provider's stock worth $43,000 after acquiring an additional 192 shares during the last quarter. 4.68% of the stock is currently owned by institutional investors and hedge funds.

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.

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