534 Shares in National Grid plc (NYSE:NGG) Purchased by Fortitude Family Office LLC

Fortitude Family Office LLC purchased a new position in shares of National Grid plc (NYSE:NGG) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 534 shares of the utilities provider’s stock, valued at approximately $37,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of NGG. Allspring Global Investments Holdings LLC grew its holdings in National Grid by 7,995.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,862 shares of the utilities provider’s stock worth $127,000 after purchasing an additional 1,839 shares during the period. Sequoia Financial Advisors LLC grew its holdings in National Grid by 34.4% during the first quarter. Sequoia Financial Advisors LLC now owns 10,789 shares of the utilities provider’s stock worth $736,000 after purchasing an additional 2,760 shares during the period. Wambolt & Associates LLC grew its holdings in National Grid by 7.7% during the first quarter. Wambolt & Associates LLC now owns 28,280 shares of the utilities provider’s stock worth $1,918,000 after purchasing an additional 2,028 shares during the period. Prosperity Consulting Group LLC bought a new stake in shares of National Grid during the first quarter worth approximately $3,712,000. Finally, BNP Paribas Financial Markets bought a new stake in shares of National Grid during the first quarter worth approximately $1,372,000. Institutional investors own 4.68% of the company’s stock.

National Grid Stock Down 0.1 %

NYSE NGG opened at $65.07 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.41. National Grid plc has a 1-year low of $55.13 and a 1-year high of $73.40. The company has a 50 day moving average of $67.64 and a 200-day moving average of $64.59.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NGG. Deutsche Bank Aktiengesellschaft began coverage on National Grid in a report on Wednesday, October 2nd. They set a “buy” rating for the company. Citigroup cut National Grid from a “buy” rating to a “neutral” rating in a report on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently 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.