National Grid plc (NYSE:NGG) Stock Position Cut by Gabelli Funds LLC

Gabelli Funds LLC lowered its stake in shares of National Grid plc (NYSE:NGG - Free Report) by 6.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 139,500 shares of the utilities provider's stock after selling 10,000 shares during the quarter. Gabelli Funds LLC's holdings in National Grid were worth $7,924,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Envestnet Asset Management Inc. lifted its holdings in National Grid by 5.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 1,286,459 shares of the utilities provider's stock worth $87,466,000 after buying an additional 70,730 shares during the last quarter. Capital International Investors bought a new position in National Grid during the first quarter worth $86,218,000. Dimensional Fund Advisors LP boosted its holdings in National Grid by 0.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 670,631 shares of the utilities provider's stock worth $45,596,000 after purchasing an additional 5,934 shares during the period. Hsbc Holdings PLC increased its stake in National Grid by 11,704.2% during the second quarter. Hsbc Holdings PLC now owns 650,060 shares of the utilities provider's stock valued at $36,917,000 after purchasing an additional 644,553 shares during the last quarter. Finally, Stifel Financial Corp increased its stake in National Grid by 11.6% during the fourth quarter. Stifel Financial Corp now owns 247,902 shares of the utilities provider's stock valued at $16,855,000 after purchasing an additional 25,673 shares during the last quarter. Institutional investors own 4.68% of the company's stock.

National Grid Stock Performance

Shares of NYSE:NGG traded down $0.37 during trading hours on Tuesday, hitting $70.11. The stock had a trading volume of 363,956 shares, compared to its average volume of 545,708. The stock's fifty day simple moving average is $65.54 and its 200 day simple moving average is $64.59. The firm has a market capitalization of $55.63 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 4.81 and a beta of 0.61. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.84 and a current ratio of 0.91. National Grid plc has a 1-year low of $55.13 and a 1-year high of $73.40.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Citigroup raised shares of National Grid from a "neutral" rating to a "buy" rating in a report on Monday, June 3rd. The Goldman Sachs Group upgraded National Grid from a "neutral" rating to a "buy" rating in a research report on Wednesday, June 12th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy".

About National Grid

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.