Zions Bancorporation N.A. Raises Position in National Grid plc (NYSE:NGG)

Zions Bancorporation N.A. lifted its position in National Grid plc (NYSE:NGG) by 10.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 137,218 shares of the utilities provider’s stock after acquiring an additional 13,128 shares during the period. National Grid comprises about 0.5% of Zions Bancorporation N.A.’s investment portfolio, making the stock its 28th biggest holding. Zions Bancorporation N.A.’s holdings in National Grid were worth $8,153,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Pathstone Holdings LLC lifted its position in National Grid by 46.0% in the 3rd quarter. Pathstone Holdings LLC now owns 36,202 shares of the utilities provider’s stock valued at $2,522,000 after acquiring an additional 11,402 shares in the last quarter. Oppenheimer & Co. Inc. lifted its holdings in shares of National Grid by 24.2% during the fourth quarter. Oppenheimer & Co. Inc. now owns 4,455 shares of the utilities provider’s stock valued at $265,000 after purchasing an additional 868 shares in the last quarter. XTX Topco Ltd bought a new position in shares of National Grid during the third quarter valued at $1,624,000. National Bank of Canada FI increased its holdings in National Grid by 351.1% in the 3rd quarter. National Bank of Canada FI now owns 207,116 shares of the utilities provider’s stock worth $14,429,000 after buying an additional 161,204 shares in the last quarter. Finally, Walleye Capital LLC purchased a new position in National Grid in the 3rd quarter worth about $962,000. Institutional investors own 4.68% of the company’s stock.

National Grid Price Performance

Shares of NYSE: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 capitalization of $61.49 billion, a PE ratio of 12.09, a price-to-earnings-growth ratio of 5.64 and a beta of 0.63. The firm’s 50 day moving average price is $61.45 and its 200-day moving average price is $63.12. National Grid plc has a twelve month low of $54.24 and a twelve month high of $72.21.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NGG. Sanford C. Bernstein raised shares of National Grid from a “market perform” rating to an “outperform” rating in a report on Monday, March 17th. StockNews.com raised shares of National Grid from a “sell” rating to a “hold” rating in a research report on Friday, March 7th. Finally, Citigroup raised National Grid from a “neutral” rating to a “buy” rating in a report on Tuesday, January 21st. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, National Grid currently has an average rating of “Moderate Buy”.

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.