Oppenheimer & Co. Inc. increased its stake in shares of National Grid plc (NYSE:NGG – Get Rating) by 7.4% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 6,714 shares of the utilities provider’s stock after purchasing an additional 464 shares during the period. Oppenheimer & Co. Inc.’s holdings in National Grid were worth $346,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in NGG. Guardian Wealth Advisors LLC purchased a new position in shares of National Grid during the 3rd quarter worth approximately $27,000. Allworth Financial LP boosted its position in shares of National Grid by 51.0% during the 3rd quarter. Allworth Financial LP now owns 669 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 226 shares during the period. Fairfield Bush & CO. purchased a new position in shares of National Grid during the 1st quarter worth approximately $36,000. Rosenberg Matthew Hamilton boosted its position in National Grid by 67.9% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 744 shares of the utilities provider’s stock valued at $38,000 after buying an additional 301 shares during the period. Finally, Curi Wealth Management LLC purchased a new position in National Grid in the 2nd quarter valued at approximately $56,000. Hedge funds and other institutional investors own 3.49% of the company’s stock.Get National Grid alerts:
Shares of NYSE:NGG opened at $63.40 on Friday. The company’s fifty day moving average price is $62.75 and its 200 day moving average price is $60.60. National Grid plc has a 12 month low of $47.22 and a 12 month high of $80.20. The company has a current ratio of 0.71, a quick ratio of 0.66 and a debt-to-equity ratio of 1.52.
NGG has been the subject of several recent research reports. Societe Generale raised shares of National Grid from a “hold” rating to a “buy” rating in a research report on Tuesday, November 15th. JPMorgan Chase & Co. initiated coverage on shares of National Grid in a research report on Tuesday, November 8th. They set an “overweight” rating for the company. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of National Grid from GBX 1,020 ($12.28) to GBX 1,070 ($12.89) in a research report on Friday, January 13th. Morgan Stanley raised shares of National Grid from an “equal weight” rating to an “overweight” rating in a research report on Friday, January 6th. Finally, StockNews.com cut shares of National Grid from a “buy” rating to a “hold” rating in a research report on Monday, February 13th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, National Grid has an average rating of “Moderate Buy” and an average price target of $1,106.67.
National Grid Plc engages in the transmission and distribution of electricity and gas. It operates through the following segments: UK Electricity Transmission, UK Electricity Distribution, UK Electricity System Operator, New England, and New York. The UK Electricity Transmission segment focuses on the high-voltage electricity transmission networks in England and Wales.
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