National Grid plc (NYSE:NGG) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC decreased its position in National Grid plc (NYSE:NGG - Free Report) by 9.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 87,701 shares of the utilities provider's stock after selling 9,233 shares during the quarter. Corient Private Wealth LLC's holdings in National Grid were worth $5,211,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. FMR LLC boosted its stake in shares of National Grid by 77.3% in the third quarter. FMR LLC now owns 3,989,726 shares of the utilities provider's stock valued at $277,964,000 after purchasing an additional 1,739,566 shares during the period. Raymond James Financial Inc. acquired a new position in National Grid in the 4th quarter worth $67,324,000. Merewether Investment Management LP purchased a new position in National Grid in the 3rd quarter valued at about $66,535,000. Bank of Montreal Can grew its stake in shares of National Grid by 3.1% during the third quarter. Bank of Montreal Can now owns 553,394 shares of the utilities provider's stock valued at $38,588,000 after acquiring an additional 16,610 shares in the last quarter. Finally, ABC Arbitrage SA purchased a new stake in shares of National Grid during the fourth quarter worth about $21,706,000. Hedge funds and other institutional investors own 4.68% of the company's stock.

National Grid Stock Up 0.9 %

Shares of NGG stock traded up $0.54 during trading hours on Wednesday, hitting $63.53. 356,911 shares of the company were exchanged, compared to its average volume of 606,603. The stock has a market capitalization of $62.16 billion, a price-to-earnings ratio of 12.22, a P/E/G ratio of 5.64 and a beta of 0.63. National Grid plc has a one year low of $54.24 and a one year high of $72.21. The business's 50-day simple moving average is $61.59 and its two-hundred day simple moving average is $63.08. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.54 and a current ratio of 1.61.

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Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Citigroup raised National Grid from a "neutral" rating to a "buy" rating in a report on Tuesday, January 21st. StockNews.com upgraded National Grid from a "sell" rating to a "hold" rating in a research note on Friday, March 7th. Finally, Sanford C. Bernstein upgraded shares of National Grid from a "market perform" rating to an "outperform" rating in a research note on Monday, March 17th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy".

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.