Wealth Alliance Decreases Stake in National Grid plc (NYSE:NGG)

Wealth Alliance lessened its stake in National Grid plc (NYSE:NGG) by 25.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 17,369 shares of the utilities provider’s stock after selling 5,822 shares during the quarter. Wealth Alliance’s holdings in National Grid were worth $987,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Leo Wealth LLC purchased a new position in shares of National Grid in the 4th quarter valued at about $1,431,000. BNP Paribas Financial Markets purchased a new stake in National Grid during the first quarter worth approximately $1,372,000. Stifel Financial Corp lifted its stake in National Grid by 11.6% during the fourth quarter. Stifel Financial Corp now owns 247,902 shares of the utilities provider’s stock worth $16,855,000 after purchasing an additional 25,673 shares during the last quarter. Capital International Investors purchased a new stake in National Grid during the first quarter worth approximately $86,218,000. Finally, Atria Investments Inc lifted its stake in National Grid by 19.3% during the first quarter. Atria Investments Inc now owns 61,319 shares of the utilities provider’s stock worth $4,183,000 after purchasing an additional 9,931 shares during the last quarter. Hedge funds and other institutional investors own 4.68% of the company’s stock.

National Grid Price Performance

Shares of NYSE NGG opened at $70.06 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.41. National Grid plc has a twelve month low of $55.13 and a twelve month high of $73.40. The stock has a 50 day moving average of $65.08 and a two-hundred day moving average of $64.59. The stock has a market cap of $55.59 billion, a P/E ratio of 14.36, a P/E/G ratio of 4.81 and a beta of 0.61.

Analyst Ratings Changes

Several research firms recently weighed in on NGG. The Goldman Sachs Group upgraded National Grid from a “neutral” rating to a “buy” rating in a research note on Wednesday, June 12th. Citigroup upgraded National Grid from a “neutral” rating to a “buy” rating in a research note on Monday, June 3rd. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, National Grid currently has a consensus rating of “Moderate Buy”.

National Grid Company 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.