American Trust Investment Advisors LLC purchased a new position in National Grid plc (NYSE:NGG) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,832 shares of the utilities provider’s stock, valued at approximately $257,000.
Several other hedge funds also recently bought and sold shares of NGG. Capital Investment Advisory Services LLC grew its position in shares of National Grid by 832.7% in the second quarter. Capital Investment Advisory Services LLC now owns 513 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 458 shares in the last quarter. Citizens Financial Group Inc RI bought a new stake in National Grid during the first quarter valued at $28,000. Cornerstone Advisors Inc. boosted its stake in National Grid by 135.3% during the first quarter. Cornerstone Advisors Inc. now owns 553 shares of the utilities provider’s stock valued at $31,000 after buying an additional 318 shares during the period. Heritage Wealth Advisors bought a new stake in National Grid during the first quarter valued at $41,000. Finally, Avestar Capital LLC boosted its stake in National Grid by 35.8% during the first quarter. Avestar Capital LLC now owns 786 shares of the utilities provider’s stock valued at $43,000 after buying an additional 207 shares during the period. Institutional investors own 5.73% of the company’s stock.
Several equities research analysts have issued reports on NGG shares. Deutsche Bank raised National Grid from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. Macquarie started coverage on National Grid in a report on Monday, June 17th. They issued an “outperform” rating on the stock. Sanford C. Bernstein upgraded National Grid from a “market perform” rating to an “outperform” rating in a report on Friday, June 14th. Finally, Zacks Investment Research upgraded National Grid from a “sell” rating to a “hold” rating in a report on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $61.00.
Shares of NGG traded up $0.56 during mid-day trading on Friday, reaching $51.85. The company had a trading volume of 8,658 shares, compared to its average volume of 439,134. The company has a market capitalization of $37.28 billion, a price-to-earnings ratio of 13.52, a price-to-earnings-growth ratio of 9.77 and a beta of 0.43. National Grid plc has a 52 week low of $46.36 and a 52 week high of $59.01. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The firm has a 50-day moving average price of $51.81 and a 200 day moving average price of $53.51.
About National Grid
National Grid plc transmits and distributes electricity and natural gas. It operates through UK Electricity Transmission, UK Gas Transmission, US Regulated, and National Grid Ventures and Other Activities segments. The UK Electricity Transmission segment owns and operates electricity transmission networks, which comprise approximately 7,200 kilometers of overhead lines; 1,560 kilometers of underground cables; and 346 substations in England and Wales, as well as Scottish electricity transmission systems.
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