Bronfman E.L. Rothschild L.P. reduced its stake in shares of National Grid plc (NYSE:NGG) by 23.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,306 shares of the utilities provider’s stock after selling 397 shares during the quarter. Bronfman E.L. Rothschild L.P.’s holdings in National Grid were worth $63,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in National Grid by 106.3% during the third quarter. JPMorgan Chase & Co. now owns 16,843 shares of the utilities provider’s stock worth $873,000 after acquiring an additional 8,680 shares during the last quarter. BTIM Corp. increased its stake in National Grid by 7.5% during the fourth quarter. BTIM Corp. now owns 78,685 shares of the utilities provider’s stock worth $3,775,000 after acquiring an additional 5,510 shares during the last quarter. Martin Capital Partners LLC increased its stake in National Grid by 2.7% during the third quarter. Martin Capital Partners LLC now owns 38,501 shares of the utilities provider’s stock worth $1,997,000 after acquiring an additional 997 shares during the last quarter. Carnegie Capital Asset Management LLC increased its stake in National Grid by 70.9% during the third quarter. Carnegie Capital Asset Management LLC now owns 14,996 shares of the utilities provider’s stock worth $798,000 after acquiring an additional 6,219 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in National Grid during the third quarter worth approximately $1,359,000. 5.47% of the stock is currently owned by institutional investors.
NGG has been the topic of several analyst reports. Zacks Investment Research raised National Grid from a “sell” rating to a “buy” rating and set a $61.00 price objective on the stock in a research note on Wednesday, February 13th. Barclays started coverage on National Grid in a research report on Wednesday, January 30th. They set an “overweight” rating for the company. Finally, Royal Bank of Canada upgraded National Grid from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, February 6th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $61.00.
National Grid Profile
National Grid plc transmits and distributes electricity and natural gas. It operates through UK Electricity Transmission, UK Gas Transmission, US Regulated, and National Grid Ventures and Other Activities segments. The UK Electricity Transmission segment owns and operates electricity transmission networks, which comprise approximately 7,200 kilometers of overhead lines; 1,560 kilometers of underground cables; and 346 substations in England and Wales, as well as Scottish electricity transmission systems.
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