Smartleaf Asset Management LLC Buys 1,978 Shares of National Grid plc (NYSE:NGG)

Smartleaf Asset Management LLC grew its stake in shares of National Grid plc (NYSE:NGG) by 278.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,689 shares of the utilities provider’s stock after buying an additional 1,978 shares during the period. Smartleaf Asset Management LLC’s holdings in National Grid were worth $159,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. FMR LLC boosted its holdings in National Grid by 77.3% during the third quarter. FMR LLC now owns 3,989,726 shares of the utilities provider’s stock worth $277,964,000 after buying an additional 1,739,566 shares during the last quarter. Merewether Investment Management LP bought a new position in shares of National Grid during the 3rd quarter valued at about $66,535,000. Bank of Montreal Can lifted its holdings in shares of National Grid by 3.1% during the 3rd quarter. Bank of Montreal Can now owns 553,394 shares of the utilities provider’s stock valued at $38,588,000 after purchasing an additional 16,610 shares in the last quarter. ABC Arbitrage SA bought a new position in shares of National Grid during the 4th quarter valued at about $21,706,000. Finally, Hennessy Advisors Inc. lifted its holdings in shares of National Grid by 2.8% during the 4th quarter. Hennessy Advisors Inc. now owns 209,144 shares of the utilities provider’s stock valued at $12,427,000 after purchasing an additional 5,700 shares in the last quarter. Institutional investors own 4.68% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on NGG. StockNews.com upgraded National Grid from a “sell” rating to a “hold” rating in a report on Tuesday, February 25th. 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 assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

National Grid Trading Down 2.4 %

NYSE NGG opened at $59.44 on Friday. The stock has a market capitalization of $58.16 billion, a price-to-earnings ratio of 11.43, a PEG ratio of 5.64 and a beta of 0.63. The stock’s 50 day moving average price is $60.36 and its two-hundred day moving average price is $63.43. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.54 and a current ratio of 1.61. National Grid plc has a 52 week low of $55.13 and a 52 week high of $73.40.

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.