National Grid (NYSE:NGG) Shares Gap Up – Should You Buy?

Shares of National Grid plc (NYSE:NGG) gapped up before the market opened on Friday . The stock had previously closed at $63.93, but opened at $65.63. National Grid shares last traded at $65.84, with a volume of 231,983 shares.

Analyst Ratings Changes

Several research firms have recently weighed in on NGG. StockNews.com upgraded National Grid from a “sell” rating to a “hold” rating in a report on Friday, March 7th. Citigroup raised National Grid from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 21st. Finally, 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. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy”.

National Grid Stock Performance

The firm has a market cap of $64.24 billion, a price-to-earnings ratio of 12.63, a price-to-earnings-growth ratio of 5.64 and a beta of 0.63. The stock’s 50 day moving average is $61.92 and its 200 day moving average is $63.03. The company has a current ratio of 1.61, a quick ratio of 1.54 and a debt-to-equity ratio of 1.18.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in NGG. FMR LLC boosted its stake in shares of National Grid by 77.3% in the third quarter. FMR LLC now owns 3,989,726 shares of the utilities provider’s stock valued at $277,964,000 after buying an additional 1,739,566 shares during the period. Raymond James Financial Inc. acquired a new position in shares of National Grid during the fourth quarter worth $67,324,000. Merewether Investment Management LP bought a new position in National Grid in the third quarter valued at about $66,535,000. ABC Arbitrage SA bought a new position in National Grid in the 4th quarter valued at approximately $21,706,000. Finally, D. E. Shaw & Co. Inc. raised its stake in shares of National Grid by 5,134.3% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 330,706 shares of the utilities provider’s stock valued at $19,651,000 after acquiring an additional 324,388 shares during the last quarter. 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.