Hsbc Holdings PLC Raises Holdings in National Grid plc (NYSE:NGG)

Hsbc Holdings PLC increased its stake in shares of National Grid plc (NYSE:NGG) by 11,704.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 650,060 shares of the utilities provider’s stock after purchasing an additional 644,553 shares during the period. Hsbc Holdings PLC owned 0.08% of National Grid worth $36,917,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. RFP Financial Group LLC raised its holdings in shares of National Grid by 119.8% in the first quarter. RFP Financial Group LLC now owns 367 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 200 shares during the last quarter. Headlands Technologies LLC purchased a new stake in National Grid during the 1st quarter worth about $27,000. Richardson Financial Services Inc. acquired a new position in National Grid in the 1st quarter valued at about $28,000. Bessemer Group Inc. acquired a new position in National Grid in the 1st quarter valued at about $29,000. Finally, Creekmur Asset Management LLC purchased a new position in National Grid in the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 4.68% of the company’s stock.

Wall Street Analysts Forecast Growth

NGG has been the subject of a number of analyst reports. The Goldman Sachs Group raised shares of National Grid from a “neutral” rating to a “buy” rating in a research report on Wednesday, June 12th. Citigroup upgraded National Grid from a “neutral” rating to a “buy” rating in a report on Monday, June 3rd. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, National Grid currently has an average rating of “Moderate Buy”.

National Grid Price Performance

NGG opened at $69.54 on Friday. National Grid plc has a 1 year low of $55.13 and a 1 year high of $73.40. The company’s 50 day simple moving average is $65.35 and its 200 day simple moving average is $64.63. The stock has a market capitalization of $55.17 billion, a PE ratio of 14.25, a P/E/G ratio of 4.81 and a beta of 0.61. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.84 and a current ratio of 0.91.

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.