Marcum Wealth LLC Takes Position in National Grid plc (NYSE:NGG)

Marcum Wealth LLC purchased a new stake in shares of National Grid plc (NYSE:NGG) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 2,996 shares of the utilities provider’s stock, valued at approximately $209,000.

Other institutional investors have also recently made changes to their positions in the company. RFP Financial Group LLC grew its holdings in shares of National Grid by 119.8% during the first 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 during the last quarter. Headlands Technologies LLC purchased a new stake in National Grid in the first quarter worth approximately $27,000. Richardson Financial Services Inc. purchased a new stake in National Grid in the first quarter worth approximately $28,000. Creekmur Asset Management LLC purchased a new stake in National Grid in the fourth quarter worth approximately $29,000. Finally, Bessemer Group Inc. purchased a new stake in National Grid in the first quarter worth approximately $29,000. Hedge funds and other institutional investors own 4.68% of the company’s stock.

National Grid Stock Up 0.8 %

NGG opened at $66.21 on Friday. 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 1-year low of $55.13 and a 1-year high of $73.40. The firm’s 50 day simple moving average is $66.96 and its two-hundred day simple moving average is $64.64.

Analysts Set New Price Targets

NGG has been the topic of several research reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of National Grid in a report on Wednesday, October 2nd. They issued a “buy” rating on the stock. Citigroup cut shares of National Grid from a “buy” rating to a “neutral” rating in a report on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average 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.