Gamco Investors INC. ET AL acquired a new position in shares of National Grid plc (NYSE:NGG) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,700 shares of the utilities provider’s stock, valued at approximately $218,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Capital International Investors grew its stake in National Grid by 302.5% in the 3rd quarter. Capital International Investors now owns 2,693,566 shares of the utilities provider’s stock worth $168,914,000 after acquiring an additional 2,024,400 shares during the period. Mondrian Investment Partners LTD purchased a new stake in National Grid in the 3rd quarter worth approximately $30,019,000. Wells Fargo & Company MN grew its stake in National Grid by 11.3% in the 3rd quarter. Wells Fargo & Company MN now owns 1,871,386 shares of the utilities provider’s stock worth $117,355,000 after acquiring an additional 189,757 shares during the period. Crossmark Global Holdings Inc. purchased a new stake in National Grid in the 3rd quarter worth approximately $11,052,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in National Grid in the 2nd quarter worth approximately $4,539,000. 5.54% of the stock is owned by hedge funds and other institutional investors.
Several analysts have commented on the stock. BNP Paribas raised shares of National Grid from a “neutral” rating to an “outperform” rating in a research note on Monday, January 29th. Goldman Sachs Group raised shares of National Grid from a “sell” rating to a “neutral” rating in a research note on Thursday, January 25th. Zacks Investment Research raised shares of National Grid from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research note on Tuesday, January 23rd. Macquarie raised shares of National Grid from a “neutral” rating to an “outperform” rating in a research note on Tuesday, December 19th. Finally, Deutsche Bank raised shares of National Grid from a “sell” rating to a “hold” rating in a research note on Wednesday, December 6th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $67.00.
Shares of National Grid plc (NGG) opened at $52.01 on Wednesday. National Grid plc has a 12 month low of $51.51 and a 12 month high of $75.24. The company has a current ratio of 0.77, a quick ratio of 0.71 and a debt-to-equity ratio of 1.32.
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National Grid Profile
National Grid plc is an electricity and gas utility company focused on transmission and distribution activities in electricity and gas in both the United Kingdom and the United States. The Company’s segments include UK Electricity Transmission, which is engaged in high voltage electricity transmission networks in Great Britain; UK Gas Transmission, which is the gas transmission network in Great Britain and United Kingdom liquefied natural gas (LNG) storage activities; UK Gas Distribution, which includes approximately four of the eight regional networks of Great Britain’s gas distribution system, and US Regulated, which includes gas distribution networks, electricity distribution networks and high voltage electricity transmission networks in New York, and New England and electricity generation facilities in New York.
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