National Grid plc (NYSE:NGG) Shares Sold by Trust Point Inc.

Trust Point Inc. reduced its stake in shares of National Grid plc (NYSE:NGG) by 9.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 4,336 shares of the utilities provider’s stock after selling 454 shares during the quarter. Trust Point Inc.’s holdings in National Grid were worth $302,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Capital International Investors bought a new position in shares of National Grid during the first quarter worth about $86,218,000. Hsbc Holdings PLC raised its stake in National Grid by 11,704.2% during the second quarter. Hsbc Holdings PLC now owns 650,060 shares of the utilities provider’s stock valued at $36,917,000 after buying an additional 644,553 shares in the last quarter. Bank of Montreal Can lifted its holdings in National Grid by 20.3% during the 2nd quarter. Bank of Montreal Can now owns 536,784 shares of the utilities provider’s stock worth $31,005,000 after buying an additional 90,722 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of National Grid in the 2nd quarter worth approximately $29,097,000. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of National Grid by 17.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 480,271 shares of the utilities provider’s stock valued at $27,279,000 after acquiring an additional 71,833 shares during the last quarter. Institutional investors own 4.68% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on NGG. Deutsche Bank Aktiengesellschaft assumed coverage on National Grid in a research note on Wednesday, October 2nd. They set a “buy” rating on the stock. Citigroup downgraded shares of National Grid from a “buy” rating to a “neutral” rating in a research report on Thursday, October 3rd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, National Grid presently has a consensus rating of “Moderate Buy”.

National Grid Stock Up 1.2 %

Shares of National Grid stock opened at $68.00 on Friday. The stock has a market capitalization of $53.95 billion, a price-to-earnings ratio of 13.96, a PEG ratio of 4.50 and a beta of 0.61. National Grid plc has a twelve month low of $55.13 and a twelve month high of $73.40. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.41. The business’s 50 day simple moving average is $67.42 and its 200-day simple moving average is $64.61.

National Grid Profile

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.