Cidel Asset Management Inc. Purchases 2,615 Shares of National Grid plc (NYSE:NGG)

Cidel Asset Management Inc. increased its position in shares of National Grid plc (NYSE:NGG) by 4.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 59,177 shares of the utilities provider’s stock after buying an additional 2,615 shares during the period. Cidel Asset Management Inc.’s holdings in National Grid were worth $3,516,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of NGG. GAMMA Investing LLC boosted its stake in National Grid by 45.4% during the third quarter. GAMMA Investing LLC now owns 1,005 shares of the utilities provider’s stock worth $70,000 after buying an additional 314 shares in the last quarter. Atomi Financial Group Inc. acquired a new stake in shares of National Grid during the 3rd quarter valued at about $393,000. Hexagon Capital Partners LLC increased its stake in National Grid by 13.7% in the third quarter. Hexagon Capital Partners LLC now owns 3,685 shares of the utilities provider’s stock valued at $257,000 after acquiring an additional 445 shares during the period. Marcum Wealth LLC acquired a new position in National Grid in the third quarter worth about $209,000. Finally, Valeo Financial Advisors LLC bought a new position in National Grid during the third quarter worth about $205,000. 4.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Citigroup upgraded 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 issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy”.

National Grid Price Performance

Shares of NYSE NGG opened at $61.50 on Friday. National Grid plc has a 52-week low of $55.13 and a 52-week high of $73.40. 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 business has a fifty day moving average of $59.94 and a two-hundred day moving average of $63.73.

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.