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

National Grid (LON:NG) had its price target trimmed by Berenberg Bank from GBX 1,150 ($15.02) to GBX 1,070 ($13.97) in a research report released on Monday, MarketBeat reports. The brokerage currently has a hold rating on the stock.

Other equities research analysts also recently issued reports about the stock. Citigroup reissued a “top pick” rating on shares of National Grid in a research note on Monday, September 16th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a GBX 1,200 ($15.67) target price on shares of National Grid in a research report on Friday, August 30th. Finally, Royal Bank of Canada restated 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. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, National Grid currently has an average rating of “Buy” and a consensus price target of GBX 1,181.25 ($15.43).

National Grid Stock Performance

LON NG opened at GBX 1,024 ($13.37) on Monday. The stock 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. National Grid has a twelve month low of GBX 645 ($8.42) and a twelve month high of GBX 1,145.50 ($14.96). The stock has a fifty day simple moving average of GBX 1,011.92 and a 200-day simple moving average of GBX 991.51. The company has a current ratio of 0.91, a quick ratio of 0.34 and a debt-to-equity ratio of 161.24.

Insider Activity at National Grid

In related news, insider John Pettigrew bought 220,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was purchased at an average cost of GBX 1,039 ($13.57) per share, for a total transaction of £2,285,800 ($2,984,852.44). Over the last quarter, insiders acquired 220,045 shares of company stock worth $228,624,889. Corporate insiders own 0.18% of the company’s stock.

About National Grid

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.