Rating On Watch: Goldman Sachs Says Its Time To Sell National Grid (NYSE:NGG)

November 29, 2016 - By Clifton Ray

Rating On Watch: Goldman Sachs Says Its Time To Sell National Grid (NYSE:NGG)

How Goldman Sachs Rates National Grid (NYSE:NGG)

The broker Goldman Sachs has began coverage on National Grid (NYSE:NGG)‘s stock, rating it Sell. This was revealed to investors in a note on Tuesday, 29 November.

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. Macquarie Research upgraded the stock to “Neutral” rating in Friday, September 18 report. The company was downgraded on Friday, November 6 by Jefferies. The firm earned “Outperform” rating on Thursday, November 19 by RBC Capital Markets. The rating was initiated by Argus Research with “Hold” on Thursday, April 7. Barclays Capital maintained it with “Overweight” rating and $80 target price in Thursday, May 19 report. As per Friday, October 9, the company rating was downgraded by Bank of America. JP Morgan upgraded National Grid plc (ADR) (NYSE:NGG) on Wednesday, May 4 to “Overweight” rating. The stock of National Grid plc (ADR) (NYSE:NGG) earned “Mkt Perform” rating by Bernstein on Wednesday, September 7. The rating was downgraded by RBC Capital Markets on Friday, July 29 to “Sector Perform”.

The stock decreased 0.03% or $0.02 on November 29, hitting $58.33. About 789,843 shares traded hands or 20.34% up from the average. National Grid plc (ADR) (NYSE:NGG) has declined 18.20% since April 26, 2016 and is downtrending. It has underperformed by 23.46% the S&P500.

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 $43.93 billion. 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 17.29 P/E ratio.

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.”

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.

More news for National Grid plc (ADR) (NYSE:NGG) were recently published by: Fool.com, which released: “National Grid plc (ADR) Reports Solid Year, Moves Forward Under New CEO” on May 27, 2016. Marketwatch.com‘s article titled: “/quotes/zigman/3870025/realtime” and published on May 29, 2009 is yet another important article.

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