Stick With National Grid plc (NYSE: NGG). The Bull Are Alive And Well

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Renaissance Technologies LLC recently announced the acquisition of new stake in National Grid plc (NYSE:NGG). The institutional investor has increased its shareholding in the Utilities company by 2.64% to 7.01 million shares with purchase of 0.18 million shares. This fresh investment now brings its stake to 1.00% valued currently at $400.58 million. In addition, Parametric Portfolio Associates L… raised its holdings by 0.1 million to 0.93 million shares. And Nuveen Asset Management LLC has lifted its position by 50.14% or 0.3 million shares – to 0.89 million shares.

With over 0.65 million National Grid plc (NGG) shares trading Monday and a closing price of $54.57 on the day, the dollar volume was approximately $35.47 million. The shares have shown a negative weekly performance of -4.86% and its price on 07/13/20 lost nearly -1.27%. Currently, there are 698.40M common shares owned by the public and among those 694.08M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 15 analysts who have offered their price forecasts for NGG have a consensus price objective of $64.27. The analysts have set the share’s price value over the next 12 months at a high of $74.75 and a low of $56.50 should the stock experience a downside. The average price target is 15.55% above its last price level and an upside to the estimated low will see the stock gain 3.42% over that period. But an upside of 27.0% will see the stock hit the forecast high price target while mean target price for the stock is $64.63.

The top 3 mutual fund holders in National Grid plc are American Mutual Fund, Hennessy Gas Utility Fund, and DFA International Core Equity Por. American Mutual Fund owns 1.6 million shares of the company’s stock, all valued at over $91.39 million. Hennessy Gas Utility Fund sold 9200.0 shares to see its total holdings shrink to 0.54 million shares valued at over $30.88 million and representing 0.08% of the shares outstanding. DFA International Core Equity Por sold 5.0 shares to bring its total holdings to over 0.24 million shares at a value of $13.92 million. DFA International Core Equity Por now owns shares totaling to 0.04% of the shares outstanding.

Shares of National Grid plc (NYSE: NGG) opened at $54.45, down -$0.82 from a prior closing price of $55.27. However, the script later closed the day at $54.57, down -1.27%. The company’s stock has a 5-day price change of -4.86% and -2.13% over the past three months. NGG shares are trading -12.92% year to date (YTD), with the 12-month market performance up to 3.65% higher. It has a 12-month low price of $44.29 and touched a high of $69.08 over the same period. Currently, 0.65 million shares have been traded, compared to an average intraday trading volume of 553.94K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -6.73%, -5.55%, and -7.63% respectively.

Institutional ownership of National Grid plc (NYSE: NGG) shares accounts for 5.10% of the company’s 698.40M shares outstanding. Mutual fund holders own 0.69%, while other institutional holders and individual stakeholders account for 4.30% and — respectively.

It has a market capitalization of $37.14B and a beta (3y monthly) value of 0.41. The stock’s trailing 12-month PE ratio is 23.75, while the earnings-per-share (ttm) stands at $2.30. The company has a PEG of 8.80 and a Quick Ratio of 0.60 with the debt-to-equity ratio at 1.57. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.77% over the week and 1.73% over the month.

Analysts forecast that National Grid plc (NGG) will achieve an EPS of $0 for the current quarter, $0 for the next quarter and $0 for Next Year. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0. Earnings per share for the fiscal year are expected to decrease by -17.00%, and -99.78% over the next financial year. EPS should grow at an annualized rate of 2.70% over the next five years, compared to -3.10% over the past 5-year period.

Specifically, 8 Wall Street analysts polled rate the stock as a buy, while 4 of the 15 advise that investors “hold,” and 0 rated it as a “Sell.”

Looking at the support for the NGG, a number of firms have released research notes about the stock. HSBC Securities stated their Hold rating for the stock in a research note on July 02, 2020, with the firm’s price target at. Citigroup coverage for the National Grid plc (NGG) stock in a research note released on May 21, 2020 offered a Neutral rating with a price target of. Deutsche Bank was of a view on April 03, 2020 that the stock is Hold, while Berenberg gave the stock Hold rating on March 27, 2020, issuing a price target of. HSBC Securities on their part issued Buy rating on March 19, 2020.

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