Arrow Financial Corp Invests $184,000 in National Grid plc (NYSE:NGG)

Arrow Financial Corp bought a new position in shares of National Grid plc (NYSE:NGG) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,233 shares of the utilities provider’s stock, valued at approximately $184,000.

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

National Grid Price Performance

NGG stock opened at $66.60 on Friday. National Grid plc has a 52 week low of $55.13 and a 52 week high of $73.40. The firm has a market capitalization of $52.84 billion, a P/E ratio of 13.93, a price-to-earnings-growth ratio of 5.74 and a beta of 0.61. The company has a fifty day simple moving average of $62.27 and a two-hundred day simple moving average of $64.32. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.41.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. The Goldman Sachs Group upgraded 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 research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, National Grid presently has a consensus rating of “Moderate Buy”.

National Grid Company Profile

National Grid plc transmits and distributes electricity and gas. The company 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.