National Grid plc (NYSE:NGG) Shares Purchased by Fmr LLC

Fmr LLC increased its holdings in National Grid plc (NYSE:NGG) by 11.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,462,898 shares of the utilities provider’s stock after purchasing an additional 473,172 shares during the quarter. Fmr LLC owned 0.46% of National Grid worth $265,185,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in shares of National Grid by 5.1% during the 4th quarter. JPMorgan Chase & Co. now owns 1,405,185 shares of the utilities provider’s stock worth $83,496,000 after buying an additional 68,587 shares during the period. Raymond James Financial Inc. acquired a new position in National Grid during the fourth quarter worth $67,324,000. LPL Financial LLC lifted its holdings in National Grid by 3.3% during the fourth quarter. LPL Financial LLC now owns 781,572 shares of the utilities provider’s stock valued at $46,441,000 after purchasing an additional 25,082 shares in the last quarter. ABC Arbitrage SA acquired a new stake in shares of National Grid in the fourth quarter valued at about $21,706,000. Finally, Hennessy Advisors Inc. increased its stake in shares of National Grid by 2.8% during the fourth quarter. Hennessy Advisors Inc. now owns 209,144 shares of the utilities provider’s stock worth $12,427,000 after purchasing an additional 5,700 shares in the last quarter. Hedge funds and other institutional investors own 4.68% of the company’s stock.

National Grid Stock Performance

National Grid stock opened at $68.04 on Friday. The stock has a market cap of $66.57 billion, a price-to-earnings ratio of 13.08, a price-to-earnings-growth ratio of 5.64 and a beta of 0.58. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.61 and a quick ratio of 1.54. The firm has a 50 day simple moving average of $62.99 and a 200-day simple moving average of $62.72. National Grid plc has a 1-year low of $54.24 and a 1-year high of $72.21.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Sanford C. Bernstein upgraded National Grid from a “market perform” rating to an “outperform” rating in a report on Monday, March 17th. StockNews.com raised shares of National Grid from a “sell” rating to a “hold” rating in a research note on Friday, March 7th. Finally, Citigroup raised National Grid from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 21st. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

About National Grid

National Grid plc transmits and distributes electricity and gas. It 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.