SVB Wealth LLC Acquires Shares of 3,229 National Grid plc (NYSE:NGG)

SVB Wealth LLC acquired a new stake in National Grid plc (NYSE:NGG) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,229 shares of the utilities provider’s stock, valued at approximately $220,000.

Several other institutional investors and hedge funds also recently made changes to their positions in NGG. Exchange Traded Concepts LLC purchased a new stake in shares of National Grid in the third quarter valued at about $52,000. Planned Solutions Inc. purchased a new stake in shares of National Grid in the fourth quarter valued at about $53,000. UMB Bank n.a. raised its holdings in shares of National Grid by 22.7% in the fourth quarter. UMB Bank n.a. now owns 826 shares of the utilities provider’s stock valued at $56,000 after purchasing an additional 153 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of National Grid in the third quarter valued at about $64,000. Finally, Bruce G. Allen Investments LLC purchased a new stake in shares of National Grid in the fourth quarter valued at about $69,000. Hedge funds and other institutional investors own 4.68% of the company’s stock.

National Grid Trading Up 0.7 %

Shares of NYSE:NGG opened at $65.85 on Tuesday. The company has a current ratio of 0.93, a quick ratio of 0.82 and a debt-to-equity ratio of 1.43. National Grid plc has a twelve month low of $56.40 and a twelve month high of $74.48. The company has a 50-day moving average price of $66.69 and a two-hundred day moving average price of $65.58.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NGG. BNP Paribas upgraded shares of National Grid from an “underperform” rating to an “outperform” rating in a report on Tuesday, April 2nd. StockNews.com upgraded shares of National Grid from a “sell” rating to a “hold” rating in a report on Wednesday, April 3rd. Jefferies Financial Group upgraded shares of National Grid from a “hold” rating to a “buy” rating in a report on Monday, February 5th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of National Grid from a “hold” rating to a “buy” rating in a research report on Tuesday, January 16th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,165.00.

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.