Arrowstreet Capital Limited Partnership lowered its holdings in shares of National Grid plc (NYSE:NGG) by 18.9% in the 4th quarter, Holdings Channel reports. The firm owned 1,206,141 shares of the utilities provider’s stock after selling 280,896 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in National Grid were worth $70,933,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Valeo Financial Advisors LLC bought a new position in National Grid during the third quarter valued at $103,000. Advisors Preferred LLC bought a new position in National Grid during the third quarter valued at $118,000. Steward Partners Investment Advisory LLC bought a new position in National Grid during the third quarter valued at $119,000. Krilogy Financial LLC bought a new position in National Grid during the third quarter valued at $163,000. Finally, Lourd Capital LLC bought a new position in National Grid during the fourth quarter valued at $205,000. Institutional investors and hedge funds own 5.37% of the company’s stock.
Several equities analysts have commented on the stock. Zacks Investment Research upgraded shares of National Grid from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 7th. ValuEngine upgraded shares of National Grid from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Deutsche Bank upgraded shares of National Grid from a “sell” rating to a “hold” rating in a research report on Wednesday, December 6th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of National Grid in a research report on Wednesday, November 15th. Finally, Credit Suisse Group upgraded shares of National Grid from an “underperform” rating to a “neutral” rating in a research report on Monday, November 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $67.00.
Shares of National Grid plc (NYSE:NGG) opened at $53.12 on Wednesday. The stock has a market cap of $35,240.00, a PE ratio of 15.95, a PEG ratio of 3.61 and a beta of 0.45. The company has a quick ratio of 0.71, a current ratio of 0.77 and a debt-to-equity ratio of 1.32. National Grid plc has a twelve month low of $51.51 and a twelve month high of $75.24.
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About National Grid
National Grid plc is an electricity and gas utility company focused on transmission and distribution activities in electricity and gas in both the United Kingdom and the United States. The Company’s segments 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 (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.
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