Whittier Trust Co. of Nevada Inc. Reduces Holdings in National Grid plc (NYSE:NGG)

Whittier Trust Co. of Nevada Inc. lowered its position in shares of National Grid plc (NYSE:NGG) by 64.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,399 shares of the utilities provider’s stock after selling 2,511 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in National Grid were worth $79,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. lifted its holdings in 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 valued at $87,466,000 after purchasing an additional 70,730 shares in the last quarter. Raymond James & Associates lifted its holdings in National Grid by 0.6% during the first quarter. Raymond James & Associates now owns 1,268,521 shares of the utilities provider’s stock valued at $86,538,000 after purchasing an additional 7,865 shares in the last quarter. Capital International Investors purchased a new position in National Grid during the first quarter valued at approximately $86,218,000. Wells Fargo & Company MN lifted its holdings in National Grid by 10.3% during the fourth quarter. Wells Fargo & Company MN now owns 1,215,723 shares of the utilities provider’s stock valued at $82,657,000 after purchasing an additional 113,208 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in National Grid by 0.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 670,631 shares of the utilities provider’s stock valued at $45,596,000 after purchasing an additional 5,934 shares in the last quarter. Hedge funds and other institutional investors own 4.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on NGG shares. The Goldman Sachs Group raised shares of National Grid from a “neutral” rating to a “buy” rating in a report on Wednesday, June 12th. Citigroup upgraded shares of National Grid from a “neutral” rating to a “buy” rating in a research report on Monday, June 3rd. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy”.

National Grid Price Performance

NGG traded down $0.58 during trading hours on Thursday, hitting $66.42. The company’s stock had a trading volume of 169,564 shares, compared to its average volume of 555,306. The business’s 50-day moving average price is $61.89 and its 200-day moving average price is $64.29. National Grid plc has a 12 month low of $55.13 and a 12 month high of $73.40. The stock has a market cap of $52.70 billion, a price-to-earnings ratio of 14.02, a P/E/G ratio of 5.74 and a beta of 0.61. 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 Company Profile

National Grid plc transmits and distributes electricity and gas. The company 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.