Sequoia Financial Advisors LLC Reduces Position in National Grid plc (NYSE:NGG)

Sequoia Financial Advisors LLC decreased its stake in shares of National Grid plc (NYSE:NGG) by 7.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 8,029 shares of the utilities provider’s stock after selling 638 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in National Grid were worth $546,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Fairfield Bush & CO. purchased a new stake in shares of National Grid in the first quarter valued at $36,000. Tower Research Capital LLC TRC grew its position in shares of National Grid by 57.0% in the first quarter. Tower Research Capital LLC TRC now owns 661 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 240 shares during the period. Exchange Traded Concepts LLC purchased a new stake in shares of National Grid in the third quarter valued at $52,000. Planned Solutions Inc. purchased a new stake in shares of National Grid in the fourth quarter valued at $53,000. Finally, Penserra Capital Management LLC grew its position in shares of National Grid by 50.2% in the fourth quarter. Penserra Capital Management LLC now owns 910 shares of the utilities provider’s stock valued at $54,000 after purchasing an additional 304 shares during the period. Hedge funds and other institutional investors own 4.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on NGG shares. BNP Paribas raised National Grid from an “underperform” rating to an “outperform” rating in a research report on Tuesday, April 2nd. Deutsche Bank Aktiengesellschaft raised National Grid from a “hold” rating to a “buy” rating in a research report on Tuesday, January 16th. Jefferies Financial Group raised National Grid from a “hold” rating to a “buy” rating in a research report on Monday, February 5th. Finally, StockNews.com raised National Grid from a “sell” rating to a “hold” rating in a research report on Wednesday, April 3rd. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, National Grid presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,201.67.

National Grid Trading Down 1.5 %

Shares of NGG opened at $63.52 on Wednesday. The stock’s 50-day moving average is $66.66 and its two-hundred day moving average is $65.38. National Grid plc has a 12 month low of $56.40 and a 12 month high of $74.48. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.82 and a current ratio of 0.93.

National Grid Profile

National Grid plc transmits and distributes electricity and gas. The company 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.