National Bank of Canada FI Sells 3,273 Shares of National Grid plc (NYSE:NGG)

National Bank of Canada FI decreased its holdings in National Grid plc (NYSE:NGG) by 2.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 153,546 shares of the utilities provider’s stock after selling 3,273 shares during the quarter. National Bank of Canada FI’s holdings in National Grid were worth $10,583,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in NGG. Intrust Bank NA lifted its position in National Grid by 1.8% during the fourth quarter. Intrust Bank NA now owns 16,654 shares of the utilities provider’s stock worth $1,132,000 after acquiring an additional 288 shares during the last quarter. International Assets Investment Management LLC acquired a new position in National Grid in the 4th quarter valued at $11,446,000. Benjamin F. Edwards & Company Inc. increased its position in National Grid by 383.6% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 14,446 shares of the utilities provider’s stock worth $982,000 after buying an additional 11,459 shares during the period. Wellington Management Group LLP lifted its holdings in shares of National Grid by 3.9% during the third quarter. Wellington Management Group LLP now owns 53,984 shares of the utilities provider’s stock worth $3,273,000 after buying an additional 2,049 shares in the last quarter. Finally, DAVENPORT & Co LLC increased its stake in National Grid by 6.3% in the fourth quarter. DAVENPORT & Co LLC now owns 70,514 shares of the utilities provider’s stock valued at $4,794,000 after acquiring an additional 4,162 shares during the last quarter. 4.68% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on NGG shares. Deutsche Bank Aktiengesellschaft upgraded National Grid from a “hold” rating to a “buy” rating in a research note on Tuesday, January 16th. StockNews.com raised National Grid from a “sell” rating to a “hold” rating in a research note on Wednesday, April 3rd. BNP Paribas upgraded shares of National Grid from an “underperform” rating to an “outperform” rating in a research note on Tuesday, April 2nd. Finally, Jefferies Financial Group upgraded shares of National Grid from a “hold” rating to a “buy” rating in a research report on Monday, February 5th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, National Grid presently has a consensus rating of “Moderate Buy” and an average target price of $1,165.00.

National Grid Stock Performance

Shares of NYSE:NGG opened at $69.84 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.82 and a debt-to-equity ratio of 1.43. National Grid plc has a 52 week low of $56.40 and a 52 week high of $74.48. The firm’s fifty day moving average is $67.11 and its 200-day moving average is $66.18.

About National Grid

National Grid plc transmits and distributes electricity and gas. The company 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.