OLD Mission Capital LLC Takes $2.35 Million Position in National Grid plc (NYSE:NGG)

OLD Mission Capital LLC acquired a new position in shares of National Grid plc (NYSE:NGG) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 39,554 shares of the utilities provider’s stock, valued at approximately $2,350,000.

A number of other hedge funds also recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its position in National Grid by 5.1% in the fourth quarter. JPMorgan Chase & Co. now owns 1,405,185 shares of the utilities provider’s stock worth $83,496,000 after buying an additional 68,587 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of National Grid in the 4th quarter worth approximately $67,324,000. Merewether Investment Management LP bought a new stake in National Grid during the 3rd quarter valued at $66,535,000. LPL Financial LLC boosted its position in National Grid by 3.3% during the fourth quarter. LPL Financial LLC now owns 781,572 shares of the utilities provider’s stock valued at $46,441,000 after purchasing an additional 25,082 shares in the last quarter. Finally, ABC Arbitrage SA bought a new stake in shares of National Grid in the 4th quarter valued at about $21,706,000. Hedge funds and other institutional investors own 4.68% of the company’s stock.

National Grid Trading Up 0.3 %

Shares of NYSE:NGG opened at $65.83 on Wednesday. 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’s 50 day moving average price is $62.13 and its 200-day moving average price is $62.93. The firm has a market capitalization of $64.41 billion, a price-to-earnings ratio of 12.66, a price-to-earnings-growth ratio of 5.64 and a beta of 0.63. National Grid plc has a 1 year low of $54.24 and a 1 year high of $72.21.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NGG. StockNews.com upgraded National Grid from a “sell” rating to a “hold” rating in a research note on Friday, March 7th. Citigroup upgraded shares of National Grid from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 21st. Finally, Sanford C. Bernstein upgraded National Grid from a “market perform” rating to an “outperform” rating in a research report on Monday, March 17th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

National Grid Profile

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.