Gradient Investments LLC decreased its holdings in shares of National Grid plc (NYSE:NGG) by 10.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,301 shares of the utilities provider’s stock after selling 3,088 shares during the period. Gradient Investments LLC’s holdings in National Grid were worth $1,478,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in NGG. Renaissance Technologies LLC raised its holdings in National Grid by 12.5% during the second quarter. Renaissance Technologies LLC now owns 5,973,068 shares of the utilities provider’s stock worth $317,648,000 after buying an additional 662,742 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in National Grid during the second quarter worth $17,018,000. Miller Howard Investments Inc. NY grew its stake in shares of National Grid by 195.4% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 288,300 shares of the utilities provider’s stock worth $15,332,000 after acquiring an additional 190,703 shares in the last quarter. Bank of America Corp DE grew its stake in shares of National Grid by 1.9% in the 2nd quarter. Bank of America Corp DE now owns 3,484,323 shares of the utilities provider’s stock worth $185,296,000 after acquiring an additional 66,485 shares in the last quarter. Finally, Parametric Portfolio Associates LLC grew its stake in shares of National Grid by 11.5% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 618,291 shares of the utilities provider’s stock worth $32,881,000 after acquiring an additional 63,577 shares in the last quarter. Hedge funds and other institutional investors own 5.28% of the company’s stock.
NYSE NGG opened at $56.07 on Friday. National Grid plc has a 1 year low of $46.36 and a 1 year high of $59.01. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The firm has a market cap of $39.74 billion, a price-to-earnings ratio of 14.64, a PEG ratio of 10.51 and a beta of 0.43. The company has a fifty day moving average price of $52.71 and a 200-day moving average price of $52.96.
NGG has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of National Grid from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th. Deutsche Bank upgraded shares of National Grid from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. Sanford C. Bernstein upgraded shares of National Grid from a “market perform” rating to an “outperform” rating in a research note on Friday, June 14th. Finally, Macquarie initiated coverage on shares of National Grid in a research note on Monday, June 17th. They issued an “outperform” rating for the company. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $61.00.
National Grid Company Profile
National Grid plc transmits and distributes electricity and natural gas. It operates through UK Electricity Transmission, UK Gas Transmission, US Regulated, and National Grid Ventures and Other Activities segments. The UK Electricity Transmission segment owns and operates electricity transmission networks, which comprise approximately 7,200 kilometers of overhead lines; 1,560 kilometers of underground cables; and 346 substations in England and Wales, as well as Scottish electricity transmission systems.
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