National Grid plc (NYSE:NGG) Shares Purchased by Summit Global Investments

Summit Global Investments lifted its stake in National Grid plc (NYSE:NGG) by 166.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 120,327 shares of the utilities provider’s stock after acquiring an additional 75,210 shares during the quarter. Summit Global Investments’ holdings in National Grid were worth $7,150,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in NGG. Whipplewood Advisors LLC purchased a new stake in National Grid during the 4th quarter worth approximately $25,000. Larson Financial Group LLC increased its stake in National Grid by 145.6% during the 4th quarter. Larson Financial Group LLC now owns 700 shares of the utilities provider’s stock worth $42,000 after buying an additional 415 shares during the period. Rothschild Investment LLC increased its stake in National Grid by 36.2% during the 4th quarter. Rothschild Investment LLC now owns 723 shares of the utilities provider’s stock worth $43,000 after buying an additional 192 shares during the period. Eastern Bank increased its stake in National Grid by 52.7% during the 4th quarter. Eastern Bank now owns 927 shares of the utilities provider’s stock worth $55,000 after buying an additional 320 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in National Grid during the 3rd quarter worth approximately $60,000. 4.68% of the stock is currently owned by institutional investors and hedge funds.

National Grid Trading Down 2.0 %

Shares of NYSE:NGG opened at $63.77 on Friday. National Grid plc has a 52 week low of $54.24 and a 52 week high of $72.21. The company’s 50 day moving average is $61.33 and its two-hundred day moving average is $63.20. The company has a current ratio of 1.61, a quick ratio of 1.54 and a debt-to-equity ratio of 1.18. The company has a market cap of $62.39 billion, a PE ratio of 12.26, a P/E/G ratio of 5.64 and a beta of 0.63.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on NGG shares. Sanford C. Bernstein raised shares of National Grid from a “market perform” rating to an “outperform” rating in a research note on Monday, March 17th. Citigroup raised shares of National Grid from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 21st. Finally, StockNews.com raised shares of National Grid from a “sell” rating to a “hold” rating in a research note on Friday, March 7th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock 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.