M&T Bank Corp Lowers Position in National Grid plc (NGG)

M&T Bank Corp cut its holdings in National Grid plc (NYSE:NGG) by 10.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 45,236 shares of the utilities provider’s stock after selling 5,271 shares during the quarter. M&T Bank Corp’s holdings in National Grid were worth $2,171,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in NGG. Creative Planning lifted its position in shares of National Grid by 16.5% during the 4th quarter. Creative Planning now owns 16,499 shares of the utilities provider’s stock valued at $792,000 after buying an additional 2,338 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of National Grid by 899.2% during the 4th quarter. SG Americas Securities LLC now owns 57,215 shares of the utilities provider’s stock valued at $2,745,000 after buying an additional 51,489 shares in the last quarter. Miller Howard Investments Inc. NY lifted its position in shares of National Grid by 237.5% during the 4th quarter. Miller Howard Investments Inc. NY now owns 149,189 shares of the utilities provider’s stock valued at $7,158,000 after buying an additional 104,989 shares in the last quarter. Old Port Advisors purchased a new position in shares of National Grid during the 4th quarter valued at approximately $2,652,000. Finally, Wetherby Asset Management Inc. lifted its position in shares of National Grid by 21.5% during the 4th quarter. Wetherby Asset Management Inc. now owns 11,112 shares of the utilities provider’s stock valued at $533,000 after buying an additional 1,964 shares in the last quarter. 5.38% of the stock is owned by institutional investors.

Shares of NGG stock opened at $54.50 on Wednesday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.79 and a current ratio of 0.85. The firm has a market capitalization of $37.06 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 9.64 and a beta of 0.47. National Grid plc has a fifty-two week low of $46.36 and a fifty-two week high of $59.82.

NGG has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded National Grid from a “sell” rating to a “buy” rating and set a $61.00 target price on the stock in a research report on Wednesday. Royal Bank of Canada upgraded National Grid from a “sector perform” rating to an “outperform” rating in a report on Wednesday, February 6th. Finally, Barclays initiated coverage on National Grid in a report on Wednesday, January 30th. They issued an “overweight” rating on the stock. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $61.00.

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National Grid Company 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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Institutional Ownership by Quarter for National Grid (NYSE:NGG)

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