National Grid (NGG) is a Great Momentum Stock: Should You Buy?

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1] Company Overview: National Grid (NGG) - National Grid currently holds a Momentum Style Score of B, indicating a positive momentum outlook [2] - The company has a Zacks Rank of 2 (Buy), suggesting strong potential for outperformance in the market [3] Performance Metrics - Over the past week, NGG shares increased by 3.27%, while the Zacks Alternative Energy - Other industry declined by 0.89% [5] - In the last quarter, NGG shares rose by 14.48%, and over the past year, they gained 44.37%, significantly outperforming the S&P 500, which increased by only 1.86% and 15.7% respectively [6] - The average 20-day trading volume for NGG is 765,012 shares, indicating a bullish sign with rising stock prices [7] Earnings Outlook - In the past two months, two earnings estimates for NGG have been revised upwards, increasing the consensus estimate from $5.22 to $5.26 [9] - For the next fiscal year, two estimates have also moved upwards, with no downward revisions during the same period [9] Conclusion - Given the positive performance metrics and earnings outlook, NGG is positioned as a 2 (Buy) stock with a Momentum Score of B, making it a strong candidate for near-term investment [11]