Bank of New York Mellon Corp Reduces Stock Holdings in National Grid plc (NYSE:NGG)

Bank of New York Mellon Corp lessened its position in National Grid plc (NYSE:NGG - Free Report) by 57.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 67,232 shares of the utilities provider's stock after selling 91,743 shares during the quarter. Bank of New York Mellon Corp's holdings in National Grid were worth $3,995,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in NGG. Oppenheimer Asset Management Inc. bought a new position in National Grid in the third quarter valued at $566,000. Oppenheimer & Co. Inc. bought a new position in National Grid in the third quarter valued at $250,000. Natixis Advisors LLC grew its stake in shares of National Grid by 51.9% during the third quarter. Natixis Advisors LLC now owns 111,526 shares of the utilities provider's stock valued at $7,770,000 after buying an additional 38,123 shares during the last quarter. Thrivent Financial for Lutherans purchased a new position in shares of National Grid in the third quarter worth about $248,000. Finally, AMG National Trust Bank purchased a new position in shares of National Grid in the third quarter worth about $1,122,000. Institutional investors own 4.68% of the company's stock.

Analysts Set New Price Targets

NGG has been the topic of several analyst reports. Citigroup upgraded National Grid from a "neutral" rating to a "buy" rating in a report on Tuesday, January 21st. Sanford C. Bernstein raised National Grid from a "market perform" rating to an "outperform" rating in a research note on Monday, March 17th. Finally, StockNews.com raised National Grid from a "sell" rating to a "hold" rating in a research note on Friday, March 7th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, National Grid currently has a consensus rating of "Moderate Buy".

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National Grid Trading Down 2.0 %

Shares of NYSE:NGG traded down $1.31 during trading on Friday, reaching $63.77. 697,516 shares of the company traded hands, compared to its average volume of 607,330. The firm has a market capitalization of $62.39 billion, a price-to-earnings ratio of 12.26, a P/E/G ratio of 5.64 and a beta of 0.63. National Grid plc has a 52-week low of $54.24 and a 52-week high of $72.21. The company has a current ratio of 1.61, a quick ratio of 1.54 and a debt-to-equity ratio of 1.18. The business's fifty day moving average is $61.33 and its 200-day moving average is $63.20.

National Grid Profile

National Grid plc transmits and distributes electricity and gas. It operates through UK Electricity Transmission, UK Electricity Distribution, UK Electricity System Operator, New England, New York, National Grid Ventures, and Other segments. The UK Electricity Transmission segment provides electricity transmission and construction work services in England and Wales.