HighTower Advisors LLC lessened its holdings in shares of National Grid plc (NYSE:NGG - Free Report) by 29.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 32,830 shares of the utilities provider's stock after selling 13,701 shares during the quarter. HighTower Advisors LLC's holdings in National Grid were worth $1,951,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the business. FMR LLC increased its stake in National Grid by 77.3% during the 3rd quarter. FMR LLC now owns 3,989,726 shares of the utilities provider's stock valued at $277,964,000 after buying an additional 1,739,566 shares during the period. Raymond James Financial Inc. acquired a new position in shares of National Grid during the fourth quarter valued at approximately $67,324,000. Merewether Investment Management LP bought a new stake in National Grid during the third quarter worth approximately $66,535,000. Bank of Montreal Can raised its holdings in National Grid by 3.1% during the third quarter. Bank of Montreal Can now owns 553,394 shares of the utilities provider's stock worth $38,588,000 after purchasing an additional 16,610 shares in the last quarter. Finally, ABC Arbitrage SA acquired a new stake in National Grid in the fourth quarter worth approximately $21,706,000. Institutional investors own 4.68% of the company's stock.
National Grid Trading Up 0.5 %
Shares of National Grid stock traded up $0.34 on Thursday, reaching $63.91. 407,777 shares of the company were exchanged, compared to its average volume of 689,608. 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 fifty-two week low of $55.13 and a fifty-two week high of $73.40. The firm has a market capitalization of $62.53 billion, a price-to-earnings ratio of 12.29, a price-to-earnings-growth ratio of 5.64 and a beta of 0.63. The stock has a fifty day moving average price of $61.71 and a 200-day moving average price of $63.09.
Analysts Set New Price Targets
A number of analysts have recently commented on NGG shares. Citigroup raised National Grid from a "neutral" rating to a "buy" rating in a research note on Tuesday, January 21st. StockNews.com raised shares of National Grid from a "sell" rating to a "hold" rating in a report 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 report 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. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy".
View Our Latest Report on NGG
National Grid Company Profile
(
Free Report)
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.
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