Zions Bancorporation N.A. Grows Stake in National Grid plc (NYSE:NGG)

Zions Bancorporation N.A. grew its holdings in shares of National Grid plc (NYSE:NGG) by 10.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 137,218 shares of the utilities provider’s stock after buying an additional 13,128 shares during the period. National Grid accounts for 0.5% of Zions Bancorporation N.A.’s portfolio, making the stock its 28th biggest position. Zions Bancorporation N.A.’s holdings in National Grid were worth $8,153,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NGG. Thrivent Financial for Lutherans purchased a new position in National Grid during the 3rd quarter valued at $248,000. Pathstone Holdings LLC increased its position in shares of National Grid by 46.0% during the third 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 period. Advisors Asset Management Inc. raised its stake in National Grid by 2.0% in the third quarter. Advisors Asset Management Inc. now owns 14,678 shares of the utilities provider’s stock worth $1,023,000 after buying an additional 282 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in National Grid by 134.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 61,827 shares of the utilities provider’s stock valued at $4,307,000 after acquiring an additional 35,451 shares in the last quarter. Finally, Raymond James Trust N.A. grew its holdings in shares of National Grid by 5.5% during the 3rd quarter. Raymond James Trust N.A. now owns 17,334 shares of the utilities provider’s stock worth $1,208,000 after acquiring an additional 910 shares during the period. Institutional investors own 4.68% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on NGG. Citigroup upgraded 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 report 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 investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, National Grid currently has a consensus rating of “Moderate Buy”.

National Grid Stock Performance

Shares of NGG opened at $62.84 on Tuesday. The company has a quick ratio of 1.54, a current ratio of 1.61 and a debt-to-equity ratio of 1.18. The stock has a market cap of $61.49 billion, a P/E ratio of 12.09, a P/E/G ratio of 5.64 and a beta of 0.63. The business’s 50 day moving average price is $61.45 and its 200-day moving average price is $63.12. National Grid plc has a 52 week low of $54.24 and a 52 week high of $72.21.

National Grid Company 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.