National Grid plc (NYSE:NGG) Shares Sold by Prosperity Consulting Group LLC

Prosperity Consulting Group LLC lessened its stake in shares of National Grid plc (NYSE:NGG) by 30.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 38,108 shares of the utilities provider’s stock after selling 16,308 shares during the period. Prosperity Consulting Group LLC’s holdings in National Grid were worth $2,165,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Capital International Investors acquired a new stake in shares of National Grid in the first quarter valued at $86,218,000. Wells Fargo & Company MN raised its stake in National Grid by 10.3% during the 4th quarter. Wells Fargo & Company MN now owns 1,215,723 shares of the utilities provider’s stock worth $82,657,000 after acquiring an additional 113,208 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of National Grid by 128.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 148,184 shares of the utilities provider’s stock valued at $8,417,000 after purchasing an additional 83,310 shares during the period. Envestnet Asset Management Inc. grew its position in shares of National Grid by 5.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 1,286,459 shares of the utilities provider’s stock worth $87,466,000 after acquiring an additional 70,730 shares during the last quarter. Finally, QRG Capital Management Inc. raised its position in National Grid by 68.6% in the 1st quarter. QRG Capital Management Inc. now owns 126,274 shares of the utilities provider’s stock valued at $8,614,000 after purchasing an additional 51,380 shares during the last quarter. 4.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NGG. Citigroup upgraded shares of National Grid from a “neutral” rating to a “buy” rating in a research note on Monday, June 3rd. The Goldman Sachs Group raised National Grid from a “neutral” rating to a “buy” rating in a research note on Wednesday, June 12th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

National Grid Trading Up 0.5 %

Shares of NYSE:NGG opened at $69.60 on Friday. National Grid plc has a fifty-two week low of $55.13 and a fifty-two week high of $73.40. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.41. The firm’s 50-day simple moving average is $64.52 and its 200-day simple moving average is $64.52.

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.