The stock of National Grid plc (ADR) (NYSE:NGG) hit a new 52-week low and has $54.13 target or 7.00% below today’s $58.20 share price. The 6 months bearish chart indicates high risk for the $43.75 billion company. The 1-year low was reported on Nov, 14 by Barchart.com. If the $54.13 price target is reached, the company will be worth $3.06B less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 910,583 shares traded hands or 20.72% up from the average. National Grid plc (ADR) (NYSE:NGG) has declined 15.32% since April 12, 2016 and is downtrending. It has underperformed by 20.30% the S&P500.
National Grid plc (ADR) (NYSE:NGG) Ratings Coverage
Out of 8 analysts covering National Grid (NYSE:NGG), 2 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 25% are positive. National Grid has been the topic of 9 analyst reports since September 18, 2015 according to StockzIntelligence Inc. The firm has “Outperform” rating by RBC Capital Markets given on Thursday, November 19. RBC Capital Markets downgraded the stock to “Sector Perform” rating in Friday, July 29 report. Barclays Capital maintained National Grid plc (ADR) (NYSE:NGG) on Thursday, May 19 with “Overweight” rating. The rating was upgraded by Macquarie Research on Friday, September 18 to “Neutral”. The stock of National Grid plc (ADR) (NYSE:NGG) earned “Hold” rating by Argus Research on Thursday, April 7. JP Morgan upgraded the shares of NGG in a report on Wednesday, May 4 to “Overweight” rating. The rating was downgraded by Bernstein to “Mkt Perform” on Wednesday, September 7. Jefferies downgraded the shares of NGG in a report on Friday, November 6 to “Hold” rating. The firm has “Neutral” rating by Bank of America given on Friday, October 9.
According to Zacks Investment Research, “NATIONAL GRID -ADR is an international energy delivery business, whose principal activities are in the regulated electricity and gas industries. They own and operate the high-voltage electricity transmission network in England and Wales, and Britain’s natural gas transportation system. In the US they are one of the top ten electricity companies, with the largest electricity transmission and distribution network in the New England/New York region.”
More news for National Grid plc (ADR) (NYSE:NGG) were recently published by: Marketwatch.com, which released: “Virtual Stock Exchange” on May 29, 2009. Fool.com‘s article titled: “National Grid plc (ADR) Reports Solid Year, Moves Forward Under New CEO” and published on May 27, 2016 is yet another important article.
NGG Company Profile
National Grid plc, incorporated on July 11, 2000, is an electricity and gas utility firm focused on transmission and distribution activities in electricity and gas in both the United Kingdom and the United States. The Company’s divisions include UK Electricity Transmission, which is engaged in high voltage electricity transmission networks in Great Britain; UK Gas Transmission, which is the gas transmission network in Great Britain and UK liquefied natural gas (LNG) storage activities; UK Gas Distribution, which includes approximately four of the eight regional networks of Great Britain’s gas distribution system, and US Regulated, which includes gas distribution networks, electricity distribution networks and high voltage electricity transmission networks in New York, and New England and electricity generation facilities in New York. The Company’s other activities relate to non-regulated businesses and other commercial activities not included within the above divisions, including the United Kingdom gas metering activities; the Great Britain-France Interconnector; the United Kingdom property management; a United Kingdom LNG import terminal (National Grid Grain LNG Limited); the United States LNG operations; the United States unregulated transmission pipelines; together with corporate activities.
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