National Grid plc (NYSE:NGG) Shares Bought by Zions Bancorporation N.A.

Zions Bancorporation N.A. increased its position in shares of National Grid plc (NYSE:NGG - Free Report) by 10.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 137,218 shares of the utilities provider's stock after buying an additional 13,128 shares during the quarter. National Grid comprises 0.5% of Zions Bancorporation N.A.'s investment portfolio, making the stock its 28th biggest holding. Zions Bancorporation N.A.'s holdings in National Grid were worth $8,153,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. FMR LLC raised its stake in shares of National Grid by 77.3% during the third 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 last quarter. Raymond James Financial Inc. purchased a new stake in shares of National Grid in the fourth quarter valued at about $67,324,000. Merewether Investment Management LP acquired a new position in shares of National Grid during the third quarter worth about $66,535,000. ABC Arbitrage SA acquired a new stake in National Grid in the fourth quarter valued at about $21,706,000. Finally, Guardian Partners Inc. purchased a new position in National Grid in the fourth quarter worth $9,849,000. 4.68% of the stock is currently owned by hedge funds and other institutional investors.

National Grid Price Performance

NYSE NGG traded up $1.73 during trading hours on Friday, reaching $65.66. The company's stock had a trading volume of 839,670 shares, compared to its average volume of 614,640. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.54 and a current ratio of 1.61. The company's 50-day moving average is $61.92 and its two-hundred day moving average is $63.03. National Grid plc has a fifty-two week low of $54.24 and a fifty-two week high of $72.21. The stock has a market cap of $64.24 billion, a PE ratio of 12.63, a PEG ratio of 5.64 and a beta of 0.63.

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Wall Street Analyst Weigh In

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

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.