Rating Change: Goldman Sachs Keeps GBX 854.00 Target On National Grid (LON:NG), Keeps “Sell” Rating

November 29, 2016 - By Marguerite Chambers

National Grid (LON:NG) Rating

Goldman Sachs currently has a GBX 854.00 target price per share on the 34.87 billion GBP market cap company or -7.82% downside potential. In analysts report revealed to investors and clients on 29 November, National Grid (LON:NG) stock had its “Sell” Rating kept by expert analysts at Goldman Sachs.

National Grid plc (LON:NG) Ratings Coverage

Out of 18 analysts covering National Grid PLC (LON:NG), 7 rate it a “Buy”, 6 “Sell”, while 5 “Hold”. This means 39% are positive. GBX 1200 is the highest target while GBX 780 is the lowest. The GBX 993.93 average target is 7.10% above today’s (GBX 928.02) stock price. National Grid PLC has been the topic of 115 analyst reports since July 27, 2015 according to StockzIntelligence Inc. The rating was maintained by Barclays Capital with “Overweight” on Friday, August 19. The rating was maintained by BNP Paribas with “Underperform” on Tuesday, August 18. Goldman Sachs maintained the shares of NG in a report on Thursday, November 5 with “Neutral” rating. The firm has “Underperform” rating by Credit Suisse given on Wednesday, November 18. The rating was maintained by Credit Suisse on Wednesday, August 17 with “Underperform”. The firm has “Hold” rating given on Thursday, May 19 by Jefferies. RBC Capital Markets downgraded National Grid plc (LON:NG) rating on Friday, July 29. RBC Capital Markets has “Sector Performer” rating and GBX 1080 price target. The rating was maintained by Beaufort Securities with “Buy” on Wednesday, November 11. The stock of National Grid plc (LON:NG) has “Hold” rating given on Wednesday, October 19 by Investec. RBC Capital Markets maintained the shares of NG in a report on Wednesday, March 9 with “Outperform” rating.

The stock decreased 0.21% or GBX 1.98 on November 29, hitting GBX 928.02. About 9.67M shares traded hands or 9.64% up from the average. National Grid plc (LON:NG) has declined 4.60% since May 2, 2016 and is downtrending. It has underperformed by 9.86% the S&P500.

Analysts await NovaGold Resources Inc. (USA) (NYSEMKT:NG) to report earnings on January, 25.

National Grid plc 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 has a market cap of 34.87 billion GBP. 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 United Kingdom liquefied natural gas 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. It has a 17.08 P/E ratio.

According to Zacks Investment Research, “NovaGold Resources is a gold and copper company engaged in the exploration and development of mineral properties in Alaska and Western Canada. The Company is rapidly moving to production at its hundred percent owned Nome Operations in Alaska, which includes Rock Creek, Big Hurrah and Nome Gold. NovaGold recently announced its partnership with Teck Cominco to build the Galore Creek copper-gold mine in northwestern British Columbia, with NovaGold and Teck Cominco each owning 50% of the project once Teck Cominco has completed its partnership requirements.”

More notable recent National Grid plc (LON:NG) news were published by: Seekingalpha.com which released: “National Grid: Is A 4.7% Dividend Yield Enough?” on November 23, 2016, also Bloomberg.com with their article: “National Grid Said to Pick Macquarie, Fosun Bids as CPPIB Exits” published on October 14, 2016, Fool.com published: “The Biggest Threat to National Grid Plc Stock” on May 16, 2016. More interesting news about National Grid plc (LON:NG) were released by: Forbes.com and their article: “National Grid (NGG) Shares Enter Oversold Territory” published on October 07, 2016 as well as Fool.com‘s news article titled: “National Grid plc (ADR) Reports Solid Year, Moves Forward Under New CEO” with publication date: May 27, 2016.

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