Summit Global Investments Boosts Holdings in National Grid plc (NYSE:NGG)

Summit Global Investments lifted its stake in National Grid plc (NYSE:NGG) by 166.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 120,327 shares of the utilities provider’s stock after buying an additional 75,210 shares during the period. Summit Global Investments’ holdings in National Grid were worth $7,150,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of NGG. Oppenheimer & Co. Inc. purchased a new position in shares of National Grid in the 3rd quarter valued at $250,000. Natixis Advisors LLC grew its position in shares of National Grid by 51.9% in the 3rd quarter. Natixis Advisors LLC now owns 111,526 shares of the utilities provider’s stock valued at $7,770,000 after buying an additional 38,123 shares during the last quarter. Thrivent Financial for Lutherans purchased a new position in shares of National Grid in the 3rd quarter valued at $248,000. Pathstone Holdings LLC grew its position in shares of National Grid by 46.0% in the 3rd quarter. Pathstone Holdings LLC now owns 36,202 shares of the utilities provider’s stock valued at $2,522,000 after buying an additional 11,402 shares during the last quarter. Finally, Caprock Group LLC purchased a new position in shares of National Grid in the 3rd quarter valued at $455,000. 4.68% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

National Grid Stock Down 2.0 %

NGG stock opened at $63.77 on Friday. National Grid plc has a one year low of $54.24 and a one year high of $72.21. The stock has a market capitalization of $62.39 billion, a PE ratio of 12.26, a price-to-earnings-growth ratio of 5.64 and a beta of 0.63. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.54 and a current ratio of 1.61. The company has a fifty day moving average of $61.33 and a 200-day moving average of $63.20.

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.