Naviter Wealth LLC Buys 3,472 Shares of National Grid plc (NYSE:NGG)

Naviter Wealth LLC raised its stake in National Grid plc (NYSE:NGG) by 29.7% in the 4th quarter, HoldingsChannel reports. The firm owned 15,148 shares of the utilities provider’s stock after acquiring an additional 3,472 shares during the quarter. Naviter Wealth LLC’s holdings in National Grid were worth $1,044,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in NGG. Herold Advisors Inc. increased its holdings in shares of National Grid by 6.1% during the fourth quarter. Herold Advisors Inc. now owns 11,074 shares of the utilities provider’s stock valued at $753,000 after acquiring an additional 632 shares in the last quarter. Syon Capital LLC boosted its stake in National Grid by 32.7% during the 4th quarter. Syon Capital LLC now owns 13,556 shares of the utilities provider’s stock valued at $922,000 after purchasing an additional 3,342 shares during the last quarter. Atria Wealth Solutions Inc. purchased a new position in shares of National Grid during the fourth quarter valued at approximately $222,000. GAMMA Investing LLC bought a new stake in National Grid during the fourth quarter worth $59,000. Finally, Jennison Associates LLC purchased a new stake in National Grid in the 4th quarter valued at $6,123,000. Institutional investors and hedge funds own 4.68% of the company’s stock.

National Grid Stock Performance

Shares of NGG stock opened at $66.46 on Tuesday. National Grid plc has a 52 week low of $56.40 and a 52 week high of $74.48. The firm’s 50-day simple moving average is $66.91 and its two-hundred day simple moving average is $65.83. The company has a quick ratio of 0.82, a current ratio of 0.93 and a debt-to-equity ratio of 1.43.

Wall Street Analysts Forecast Growth

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

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.