National Grid plc (NYSE:NGG) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN cut its holdings in National Grid plc (NYSE:NGG - Free Report) by 10.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,108,367 shares of the utilities provider's stock after selling 128,053 shares during the quarter. Wells Fargo & Company MN owned 0.11% of National Grid worth $65,859,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NGG. JPMorgan Chase & Co. grew its stake in shares of National Grid by 5.1% during the 4th quarter. JPMorgan Chase & Co. now owns 1,405,185 shares of the utilities provider's stock worth $83,496,000 after purchasing an additional 68,587 shares during the period. Raymond James Financial Inc. purchased a new stake in National Grid during the fourth quarter worth about $67,324,000. LPL Financial LLC grew its position in National Grid by 3.3% during the fourth quarter. LPL Financial LLC now owns 781,572 shares of the utilities provider's stock worth $46,441,000 after buying an additional 25,082 shares during the period. ABC Arbitrage SA purchased a new position in National Grid in the fourth quarter valued at about $21,706,000. Finally, Hennessy Advisors Inc. increased its holdings in National Grid by 2.8% in the fourth quarter. Hennessy Advisors Inc. now owns 209,144 shares of the utilities provider's stock valued at $12,427,000 after buying an additional 5,700 shares in the last quarter. Institutional investors and hedge funds own 4.68% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on NGG. StockNews.com raised National Grid from a "sell" rating to a "hold" rating in a report on Friday, March 7th. Citigroup raised shares of National Grid from a "neutral" rating to a "buy" rating in a research note on Tuesday, January 21st. 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 four have assigned a buy rating to the stock. According to MarketBeat, National Grid presently has a consensus rating of "Moderate Buy".

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National Grid Price Performance

National Grid stock traded up $2.45 during mid-day trading on Friday, hitting $68.04. 962,816 shares of the company were exchanged, compared to its average volume of 643,896. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.61 and a quick ratio of 1.54. National Grid plc has a 12-month low of $54.24 and a 12-month high of $72.21. The business's 50 day simple moving average is $62.99 and its two-hundred day simple moving average is $62.72. The company has a market capitalization of $66.57 billion, a P/E ratio of 13.08, a PEG ratio of 5.64 and a beta of 0.58.

National Grid Company 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.