Summit Global Investments Purchases 38,481 Shares of National Grid plc (NYSE:NGG)

Summit Global Investments grew its position in National Grid plc (NYSE:NGG) by 579.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 45,117 shares of the utilities provider’s stock after buying an additional 38,481 shares during the period. Summit Global Investments’ holdings in National Grid were worth $3,143,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. RFP Financial Group LLC raised its stake in National Grid by 119.8% in 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 acquired a new stake in National Grid in the 1st quarter worth approximately $27,000. Bessemer Group Inc. purchased a new stake in National Grid during the 1st quarter worth approximately $29,000. Rothschild Investment LLC acquired a new position in National Grid during the 2nd quarter valued at approximately $37,000. Finally, Fortitude Family Office LLC purchased a new position in shares of National Grid in the third quarter worth $37,000. Hedge funds and other institutional investors own 4.68% of the company’s stock.

Analysts Set New Price Targets

NGG has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft began coverage on National Grid in a report on Wednesday, October 2nd. They issued a “buy” rating for the company. Citigroup downgraded 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 issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

National Grid Stock Up 0.3 %

NGG stock opened at $64.34 on Friday. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.91 and a quick ratio of 0.84. National Grid plc has a 52-week low of $55.13 and a 52-week high of $73.40. The company’s 50-day simple moving average is $67.43 and its 200-day simple moving average is $64.57.

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.