HighPoint Advisor Group LLC Increases Position in National Grid plc (NYSE:NGG)

HighPoint Advisor Group LLC lifted its position in shares of National Grid plc (NYSE:NGG) by 4.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,047 shares of the utilities provider’s stock after purchasing an additional 311 shares during the period. HighPoint Advisor Group LLC’s holdings in National Grid were worth $495,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in National Grid in the fourth quarter valued at $67,324,000. Merewether Investment Management LP purchased a new stake in National Grid during the third quarter worth approximately $66,535,000. ABC Arbitrage SA acquired a new position in National Grid in the fourth quarter valued at approximately $21,706,000. Guardian Partners Inc. purchased a new position in National Grid in the fourth quarter valued at approximately $9,849,000. Finally, National Bank of Canada FI raised its holdings in National Grid by 351.1% during the third quarter. National Bank of Canada FI now owns 207,116 shares of the utilities provider’s stock worth $14,429,000 after purchasing an additional 161,204 shares in the last quarter. 4.68% of the stock is owned by hedge funds and other institutional investors.

National Grid Stock Performance

Shares of NGG opened at $65.79 on Thursday. The company’s 50 day simple moving average is $62.24 and its 200-day simple moving average is $62.95. The firm has a market cap of $64.37 billion, a PE ratio of 12.65, a price-to-earnings-growth ratio of 5.64 and a beta of 0.63. National Grid plc has a 12-month low of $54.24 and a 12-month high of $72.21. The company has a current ratio of 1.61, a quick ratio of 1.54 and a debt-to-equity ratio of 1.18.

Analyst Ratings Changes

NGG has been the topic of a number of recent analyst reports. StockNews.com raised shares of National Grid from a “sell” rating to a “hold” rating in a research report on Friday, March 7th. Citigroup raised National Grid from a “neutral” rating to a “buy” rating in a report on Tuesday, January 21st. Finally, Sanford C. Bernstein upgraded National Grid from a “market perform” rating to an “outperform” rating in a research report on Monday, March 17th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company 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.