Summit Global Investments Grows Position in National Grid plc (NYSE:NGG)

Summit Global Investments lifted its stake in National Grid plc (NYSE:NGG - Free Report) by 166.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 120,327 shares of the utilities provider's stock after buying an additional 75,210 shares during the quarter. Summit Global Investments' holdings in National Grid were worth $7,150,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Oppenheimer & Co. Inc. acquired a new stake in shares of National Grid during the 3rd quarter worth approximately $250,000. Natixis Advisors LLC grew its position in 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 period. Thrivent Financial for Lutherans purchased a new position in National Grid in the third quarter valued at $248,000. Pathstone Holdings LLC raised its position in shares of National Grid by 46.0% in the third quarter. Pathstone Holdings LLC now owns 36,202 shares of the utilities provider's stock worth $2,522,000 after acquiring an additional 11,402 shares during the period. Finally, Caprock Group LLC purchased a new stake in shares of National Grid during the 3rd quarter worth about $455,000. 4.68% of the stock is owned by institutional investors and hedge funds.

National Grid Price Performance

NYSE:NGG traded up $0.54 during trading hours on Wednesday, hitting $63.53. 356,911 shares of the stock were exchanged, compared to its average volume of 606,603. The firm's fifty day moving average price is $61.59 and its 200 day moving average price is $63.08. National Grid plc has a 52-week low of $54.24 and a 52-week high of $72.21. The company has a market cap of $62.16 billion, a P/E ratio of 12.22, 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.

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Wall Street Analyst Weigh In

Several brokerages recently weighed in on NGG. Citigroup upgraded National Grid from a "neutral" rating to a "buy" rating in a research note on Tuesday, January 21st. StockNews.com upgraded National Grid from a "sell" rating to a "hold" rating in a research report on Friday, March 7th. Finally, Sanford C. Bernstein upgraded National Grid from a "market perform" rating to an "outperform" rating in a research report on Monday, March 17th. One investment 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, the company presently 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.