Thu Oct 03 13:01:02 UTC 2024: ## National Grid Downgraded by Citigroup, While Other Analysts Remain Bullish
**New York, NY** – National Grid (NYSE: NGG), a leading provider of electricity and gas transmission and distribution, saw its stock rating downgraded from “buy” to “neutral” by Citigroup analysts on Thursday. The move comes despite positive sentiment from other research firms, including Deutsche Bank, which initiated coverage with a “buy” rating, and Goldman Sachs, which upgraded the stock from “neutral” to “buy” in June.
Overall, the stock currently holds a “Moderate Buy” consensus rating from analysts, with two issuing “hold” ratings and five recommending a “buy.”
Despite the mixed analyst sentiment, institutional investors have been increasing their holdings in National Grid. RFP Financial Group LLC significantly grew its stake in the company during the first quarter, while several other firms, including Headlands Technologies LLC, Richardson Financial Services Inc., Bessemer Group Inc., and Creekmur Asset Management LLC, acquired new positions in the company. Institutional investors now own 4.68% of the company’s stock.
National Grid operates across the UK and North America, with segments including electricity transmission and distribution, system operation, and energy ventures. The company’s recent performance and future prospects will be key factors influencing investor decisions in the coming months.
First Piper 