Wealth Alliance Acquires 3,028 Shares of National Grid plc (NYSE:NGG)

Wealth Alliance boosted its holdings in shares of National Grid plc (NYSE:NGG) by 15.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,566 shares of the utilities provider’s stock after acquiring an additional 3,028 shares during the quarter. Wealth Alliance’s holdings in National Grid were worth $1,534,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Fairfield Bush & CO. bought a new stake in shares of National Grid in the first quarter worth $36,000. Bank of New York Mellon Corp grew its position in shares of National Grid by 3.2% in the 1st quarter. Bank of New York Mellon Corp now owns 71,544 shares of the utilities provider’s stock valued at $5,501,000 after buying an additional 2,222 shares during the last quarter. BlackRock Inc. increased its stake in shares of National Grid by 8.2% in the first quarter. BlackRock Inc. now owns 397,048 shares of the utilities provider’s stock valued at $30,521,000 after buying an additional 30,176 shares during the period. Cibc World Market Inc. raised its position in shares of National Grid by 103.0% during the first quarter. Cibc World Market Inc. now owns 46,322 shares of the utilities provider’s stock worth $3,561,000 after acquiring an additional 23,501 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of National Grid by 5.5% in the first quarter. Dimensional Fund Advisors LP now owns 606,543 shares of the utilities provider’s stock worth $46,625,000 after acquiring an additional 31,695 shares during the period. 4.68% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on NGG. StockNews.com raised shares of National Grid from a “sell” rating to a “hold” rating in a report on Wednesday, April 3rd. BNP Paribas upgraded National Grid from an “underperform” rating to an “outperform” rating in a research report on Tuesday, April 2nd. Jefferies Financial Group raised shares of National Grid from a “hold” rating to a “buy” rating in a research note on Monday, February 5th. Finally, Deutsche Bank Aktiengesellschaft raised shares of National Grid from a “hold” rating to a “buy” rating in a report on Tuesday, January 16th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $1,201.67.

National Grid Stock Performance

NGG stock traded down $0.90 during midday trading on Tuesday, hitting $63.61. The company had a trading volume of 374,458 shares, compared to its average volume of 403,351. National Grid plc has a 52 week low of $56.40 and a 52 week high of $74.48. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.82 and a current ratio of 0.93. The stock’s 50 day moving average price is $66.72 and its 200 day moving average price is $65.36.

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.