Savvy Advisors Inc. Acquires New Stake in National Grid plc (NYSE:NGG)

Savvy Advisors Inc. bought a new stake in National Grid plc (NYSE:NGG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 4,121 shares of the utilities provider’s stock, valued at approximately $245,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in shares of National Grid in the fourth quarter valued at approximately $67,324,000. FMR LLC raised its holdings in National Grid by 11.9% in the 4th quarter. FMR LLC now owns 4,462,898 shares of the utilities provider’s stock valued at $265,185,000 after acquiring an additional 473,172 shares during the last quarter. ABC Arbitrage SA acquired a new stake in shares of National Grid during the fourth quarter worth $21,706,000. Guardian Partners Inc. acquired a new stake in shares of National Grid during the fourth quarter worth $9,849,000. Finally, Summit Global Investments grew its position in shares of National Grid by 166.7% in the fourth quarter. Summit Global Investments now owns 120,327 shares of the utilities provider’s stock valued at $7,150,000 after purchasing an additional 75,210 shares during the period. 4.68% of the stock is currently owned by hedge funds and other institutional investors.

National Grid Stock Up 2.4 %

Shares of NYSE NGG opened at $71.08 on Wednesday. The stock has a fifty day moving average price of $63.31 and a 200 day moving average price of $62.72. The company has a market cap of $69.55 billion, a P/E ratio of 13.67, a P/E/G ratio of 5.64 and a beta of 0.58. National Grid plc has a 12-month low of $54.24 and a 12-month high of $72.21. The company has a current ratio of 1.61, a quick ratio of 1.54 and a debt-to-equity ratio of 1.18.

Wall Street Analyst Weigh In

NGG has been the topic of a number of research analyst reports. Citigroup raised National Grid from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 21st. StockNews.com upgraded shares of National Grid from a “sell” rating to a “hold” rating in a report on Friday, March 7th. Finally, Sanford C. Bernstein raised shares of National Grid from a “market perform” rating to an “outperform” rating in a research note on Monday, March 17th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

National Grid 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.