International Assets Investment Management LLC Invests $11.45 Million in National Grid plc (NYSE:NGG)

International Assets Investment Management LLC purchased a new stake in National Grid plc (NYSE:NGG) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 168,343 shares of the utilities provider’s stock, valued at approximately $11,446,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NGG. Exchange Traded Concepts LLC acquired a new stake in shares of National Grid in the 3rd quarter worth $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. increased its position in National Grid by 22.7% during the fourth quarter. UMB Bank n.a. now owns 826 shares of the utilities provider’s stock worth $56,000 after purchasing an additional 153 shares during the last quarter. Headlands Technologies LLC acquired a new stake in National Grid during the third quarter worth about $64,000. Finally, Bruce G. Allen Investments LLC purchased a new position in National Grid during the fourth quarter worth about $69,000. Institutional investors and hedge funds own 4.68% of the company’s stock.

Analysts Set New Price Targets

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

National Grid Stock Performance

NGG opened at $68.33 on Monday. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.93 and a quick ratio of 0.82. The stock’s 50-day moving average price is $66.98 and its 200 day moving average price is $66.03. National Grid plc has a 12-month low of $56.40 and a 12-month high of $74.48.

About National Grid

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.