Quantum Private Wealth LLC Raises Stake in National Grid plc (NYSE:NGG)

Quantum Private Wealth LLC grew its position in National Grid plc (NYSE:NGG) by 5.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,866 shares of the utilities provider’s stock after purchasing an additional 490 shares during the quarter. Quantum Private Wealth LLC’s holdings in National Grid were worth $527,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of NGG. ABC Arbitrage SA bought a new position in National Grid in the 4th quarter worth $21,706,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of National Grid in the fourth quarter valued at about $201,000. Allspring Global Investments Holdings LLC boosted its stake in shares of National Grid by 7.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,806 shares of the utilities provider’s stock worth $286,000 after acquiring an additional 346 shares during the period. Cidel Asset Management Inc. grew its position in shares of National Grid by 4.6% during the fourth quarter. Cidel Asset Management Inc. now owns 59,177 shares of the utilities provider’s stock worth $3,516,000 after purchasing an additional 2,615 shares in the last quarter. Finally, Lockheed Martin Investment Management Co. bought a new stake in National Grid during the 4th quarter valued at approximately $2,418,000. 4.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Citigroup upgraded National Grid from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 21st. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, National Grid has an average rating of “Moderate Buy”.

National Grid Stock Performance

NGG opened at $60.73 on Friday. The firm has a 50-day simple moving average of $59.76 and a two-hundred day simple moving average of $63.66. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.61 and a quick ratio of 1.54. National Grid plc has a 52 week low of $55.13 and a 52 week high of $73.40.

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.