First Trust Direct Indexing L.P. Lowers Stock Holdings in National Grid plc (NYSE:NGG)

First Trust Direct Indexing L.P. reduced its stake in National Grid plc (NYSE:NGG) by 3.9% during the 4th quarter, HoldingsChannel reports. The firm owned 25,374 shares of the utilities provider’s stock after selling 1,034 shares during the period. First Trust Direct Indexing L.P.’s holdings in National Grid were worth $1,725,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Intrust Bank NA boosted its stake in shares of National Grid by 1.8% in the fourth quarter. Intrust Bank NA now owns 16,654 shares of the utilities provider’s stock valued at $1,132,000 after buying an additional 288 shares in the last quarter. Wellington Management Group LLP raised its holdings in 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 purchasing an additional 2,049 shares during the last quarter. DAVENPORT & Co LLC raised its holdings in National Grid by 6.3% during the fourth quarter. DAVENPORT & Co LLC now owns 70,514 shares of the utilities provider’s stock worth $4,794,000 after purchasing an additional 4,162 shares during the last quarter. Raymond James & Associates raised its holdings in shares of National Grid by 0.7% in the fourth quarter. Raymond James & Associates now owns 1,260,656 shares of the utilities provider’s stock worth $85,712,000 after acquiring an additional 8,192 shares during the last quarter. Finally, Jennison Associates LLC acquired a new position in shares of National Grid in the fourth quarter worth $6,123,000. 4.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

National Grid Stock Performance

National Grid stock traded up $0.41 during trading on Thursday, hitting $67.53. The company’s stock had a trading volume of 157,696 shares, compared to its average volume of 389,279. The stock’s fifty day moving average is $66.92 and its 200 day moving average is $65.88. National Grid plc has a 1-year low of $56.40 and a 1-year 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.

National Grid Profile

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.