Berenberg Bank Trims National Grid (LON:NG) Target Price to GBX 1,070

National Grid (LON:NG) had its target price lowered by Berenberg Bank from GBX 1,150 ($15.02) to GBX 1,070 ($13.97) in a research note published on Monday morning, MarketBeat Ratings reports. The firm currently has a hold rating on the stock.

NG has been the subject of several other reports. Citigroup reiterated a “top pick” rating on shares of National Grid in a research note on Monday, September 16th. Royal Bank of Canada reiterated an “outperform” rating and set a GBX 1,125 ($14.69) price target on shares of National Grid in a research note on Tuesday, June 25th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and issued a GBX 1,200 ($15.67) price objective on shares of National Grid in a research note on Friday, August 30th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, National Grid presently has an average rating of “Buy” and an average target price of GBX 1,181.25 ($15.43).

National Grid Price Performance

Shares of LON NG opened at GBX 1,024 ($13.37) on Monday. National Grid has a fifty-two week low of GBX 645 ($8.42) and a fifty-two week high of GBX 1,145.50 ($14.96). The company has a market cap of £50.07 billion, a PE ratio of 1,875.45, a P/E/G ratio of 2.06 and a beta of 0.25. The company has a debt-to-equity ratio of 161.24, a quick ratio of 0.34 and a current ratio of 0.91. The business has a 50-day simple moving average of GBX 1,011.92 and a two-hundred day simple moving average of GBX 991.51.

Insider Activity at National Grid

In other news, insider John Pettigrew purchased 220,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were purchased at an average cost of GBX 1,039 ($13.57) per share, with a total value of £2,285,800 ($2,984,852.44). Over the last ninety days, insiders purchased 220,045 shares of company stock worth $228,624,889. 0.18% of the stock is owned by corporate insiders.

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.