Guardian Partners Inc. Takes Position in National Grid plc (NYSE:NGG)

Guardian Partners Inc. purchased a new stake in shares of National Grid plc (NYSE:NGG) during the fourth quarter, Holdings Channel reports. The fund purchased 169,863 shares of the utilities provider’s stock, valued at approximately $9,849,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. FMR LLC raised its holdings in shares of National Grid by 77.3% during the 3rd quarter. FMR LLC now owns 3,989,726 shares of the utilities provider’s stock valued at $277,964,000 after purchasing an additional 1,739,566 shares in the last quarter. Raymond James Financial Inc. bought a new position in National Grid in the 4th quarter worth $67,324,000. Merewether Investment Management LP bought a new position in National Grid in the 3rd quarter worth $66,535,000. Bank of Montreal Can raised its holdings in National Grid by 3.1% in the 3rd quarter. Bank of Montreal Can now owns 553,394 shares of the utilities provider’s stock worth $38,588,000 after acquiring an additional 16,610 shares during the period. Finally, ABC Arbitrage SA bought a new position in National Grid in the 4th quarter worth $21,706,000. Institutional investors own 4.68% of the company’s stock.

National Grid Stock Performance

NYSE NGG opened at $63.77 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.61 and a quick ratio of 1.54. The firm has a market capitalization of $62.39 billion, a price-to-earnings ratio of 12.26, a P/E/G ratio of 5.64 and a beta of 0.63. The company’s fifty day moving average is $61.33 and its two-hundred day moving average is $63.18. National Grid plc has a 52-week low of $54.24 and a 52-week high of $72.21.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NGG. Sanford C. Bernstein upgraded shares of National Grid from a “market perform” rating to an “outperform” rating in a report on Monday, March 17th. Citigroup upgraded shares of National Grid from a “neutral” rating to a “buy” rating in a report on Tuesday, January 21st. Finally, StockNews.com upgraded shares of National Grid from a “sell” rating to a “hold” rating in a report on Friday, March 7th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy”.

National Grid Profile

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.