Invesco Ltd. Buys 16,409 Shares of National Grid plc (NYSE:NGG)

Invesco Ltd. grew its stake in shares of National Grid plc (NYSE:NGG - Free Report) by 3.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 537,269 shares of the utilities provider's stock after buying an additional 16,409 shares during the quarter. Invesco Ltd. owned 0.05% of National Grid worth $31,925,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. FMR LLC raised its position in National Grid by 11.9% in the 4th quarter. FMR LLC now owns 4,462,898 shares of the utilities provider's stock worth $265,185,000 after purchasing an additional 473,172 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of National Grid by 5.1% in the fourth quarter. JPMorgan Chase & Co. now owns 1,405,185 shares of the utilities provider's stock worth $83,496,000 after buying an additional 68,587 shares during the period. Raymond James Financial Inc. bought a new stake in shares of National Grid in the 4th quarter valued at about $67,324,000. LPL Financial LLC boosted its holdings in National Grid by 3.3% during the 4th quarter. LPL Financial LLC now owns 781,572 shares of the utilities provider's stock valued at $46,441,000 after acquiring an additional 25,082 shares during the period. Finally, ABC Arbitrage SA bought a new position in National Grid during the 4th quarter worth approximately $21,706,000. 4.68% of the stock is owned by institutional investors.

National Grid Trading Up 1.8 %

Shares of NGG traded up $1.35 during mid-day trading on Tuesday, hitting $74.25. 766,978 shares of the company's stock traded hands, compared to its average volume of 664,239. The company has a quick ratio of 1.54, a current ratio of 1.61 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $72.64 billion, a P/E ratio of 14.27, a PEG ratio of 5.64 and a beta of 0.58. The business's 50-day moving average price is $64.18 and its 200-day moving average price is $62.79. National Grid plc has a 1 year low of $54.24 and a 1 year high of $74.42.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NGG. Citigroup raised National Grid from a "neutral" rating to a "buy" rating in a research note on Tuesday, January 21st. Sanford C. Bernstein raised shares of National Grid from a "market perform" rating to an "outperform" rating in a research report on Monday, March 17th. Finally, StockNews.com upgraded shares of National Grid from a "sell" rating to a "hold" rating in a research report on Friday, March 7th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock 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.