GQG Partners LLC Acquires 12,526 Shares of National Grid plc (NYSE:NGG)

GQG Partners LLC increased its stake in shares of National Grid plc (NYSE:NGG - Free Report) by 234.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,863 shares of the utilities provider's stock after purchasing an additional 12,526 shares during the period. GQG Partners LLC's holdings in National Grid were worth $1,061,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in NGG. FMR LLC lifted its stake in shares of National Grid by 77.3% during the 3rd quarter. FMR LLC now owns 3,989,726 shares of the utilities provider's stock worth $277,964,000 after purchasing an additional 1,739,566 shares during the period. Raymond James Financial Inc. acquired a new position in shares of National Grid in the fourth quarter worth about $67,324,000. Merewether Investment Management LP bought a new position in National Grid during the 3rd quarter valued at $66,535,000. ABC Arbitrage SA bought a new stake in shares of National Grid in the 4th quarter valued at approximately $21,706,000. Finally, Guardian Partners Inc. acquired a new position in National Grid in the fourth quarter valued at approximately $9,849,000. 4.68% of the stock is currently owned by hedge funds and other institutional investors.

National Grid Stock Performance

NGG stock traded up $1.73 during midday trading on Friday, hitting $65.66. The stock had a trading volume of 839,670 shares, compared to its average volume of 614,640. The firm has a market capitalization of $64.24 billion, a price-to-earnings ratio of 12.63, a P/E/G ratio of 5.64 and a beta of 0.63. The company has a current ratio of 1.61, a quick ratio of 1.54 and a debt-to-equity ratio of 1.18. National Grid plc has a 52 week low of $54.24 and a 52 week high of $72.21. The stock has a 50-day simple moving average of $61.92 and a 200 day simple moving average of $63.03.

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Analysts Set New Price Targets

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