Wealth Alliance Has $1.23 Million Holdings in National Grid plc (NYSE:NGG)

Wealth Alliance trimmed its stake in shares of National Grid plc (NYSE:NGG) by 8.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,664 shares of the utilities provider’s stock after selling 1,939 shares during the period. Wealth Alliance’s holdings in National Grid were worth $1,228,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. FMR LLC raised its position in National Grid by 77.3% in the 3rd quarter. FMR LLC now owns 3,989,726 shares of the utilities provider’s stock worth $277,964,000 after purchasing an additional 1,739,566 shares during the last quarter. Merewether Investment Management LP acquired a new stake in shares of National Grid in the 3rd quarter valued at $66,535,000. Ausbil Investment Management Ltd bought a new stake in shares of National Grid during the third quarter worth $62,421,000. Mediolanum International Funds Ltd acquired a new position in shares of National Grid during the third quarter valued at $38,021,000. Finally, ABC Arbitrage SA acquired a new position in shares of National Grid during the fourth quarter valued at $21,706,000. 4.68% of the stock is owned by institutional investors.

National Grid Stock Performance

NGG stock opened at $61.00 on Friday. National Grid plc has a twelve month low of $55.13 and a twelve month high of $73.40. 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 business’s fifty day moving average is $59.78 and its 200-day moving average is $63.56.

Wall Street Analyst Weigh In

NGG has been the subject of several recent research reports. Citigroup raised National Grid from a “neutral” rating to a “buy” rating in a report on Tuesday, January 21st. StockNews.com cut shares of National Grid from a “hold” rating to a “sell” rating in a research report on Monday. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, National Grid currently has a consensus 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.