Envestnet Asset Management Inc. Sells 100,165 Shares of National Grid plc (NYSE:NGG)

Envestnet Asset Management Inc. trimmed its position in National Grid plc (NYSE:NGG) by 8.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,144,238 shares of the utilities provider’s stock after selling 100,165 shares during the quarter. Envestnet Asset Management Inc.’s holdings in National Grid were worth $67,991,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Oppenheimer & Co. Inc. increased its holdings in shares of National Grid by 24.2% in the fourth quarter. Oppenheimer & Co. Inc. now owns 4,455 shares of the utilities provider’s stock worth $265,000 after purchasing an additional 868 shares during the last quarter. National Bank of Canada FI grew its position in National Grid by 351.1% in the third quarter. National Bank of Canada FI now owns 207,116 shares of the utilities provider’s stock worth $14,429,000 after acquiring an additional 161,204 shares in the last quarter. Atria Wealth Solutions Inc. purchased a new position in National Grid in the fourth quarter worth about $239,000. Hennion & Walsh Asset Management Inc. purchased a new position in National Grid in the fourth quarter worth about $411,000. Finally, JCIC Asset Management Inc. purchased a new position in National Grid in the fourth quarter worth about $1,854,000. 4.68% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NGG has been the subject of several recent research reports. StockNews.com upgraded National Grid from a “sell” rating to a “hold” rating in a research report on Friday, March 7th. Sanford C. Bernstein upgraded National Grid from a “market perform” rating to an “outperform” rating in a research report on Monday, March 17th. Finally, Citigroup upgraded National Grid from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 21st. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

National Grid Stock Up 4.2 %

Shares of NYSE:NGG opened at $65.36 on Thursday. National Grid plc has a 1 year low of $54.24 and a 1 year high of $72.21. The business has a 50 day simple moving average of $62.79 and a two-hundred day simple moving average of $62.76. The firm has a market capitalization of $63.95 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 5.64 and a beta of 0.58. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.61 and a quick ratio of 1.54.

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.