Jennison Associates LLC Acquires Shares of 90,061 National Grid plc (NYSE:NGG)

Jennison Associates LLC acquired a new stake in National Grid plc (NYSE:NGG) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 90,061 shares of the utilities provider’s stock, valued at approximately $6,123,000.

Several other hedge funds also recently bought and sold shares of the business. FMR LLC grew its position in shares of National Grid by 23.9% during the 3rd quarter. FMR LLC now owns 1,648,729 shares of the utilities provider’s stock worth $99,962,000 after buying an additional 318,533 shares in the last quarter. Federated Hermes Inc. grew its position in shares of National Grid by 8.1% during the 4th quarter. Federated Hermes Inc. now owns 2,945,746 shares of the utilities provider’s stock worth $200,281,000 after buying an additional 220,504 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of National Grid by 21.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,215,729 shares of the utilities provider’s stock worth $73,710,000 after buying an additional 214,919 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of National Grid during the 4th quarter worth $11,446,000. Finally, Invesco Ltd. grew its position in shares of National Grid by 29.4% during the 3rd quarter. Invesco Ltd. now owns 644,408 shares of the utilities provider’s stock worth $39,070,000 after buying an additional 146,559 shares in the last quarter. Institutional investors own 4.68% of the company’s stock.

National Grid Stock Down 0.7 %

National Grid stock opened at $66.32 on Friday. The stock has a 50-day moving average of $66.87 and a two-hundred day moving average of $65.70. The company has a current ratio of 0.93, a quick ratio of 0.82 and a debt-to-equity ratio of 1.43. National Grid plc has a one year low of $56.40 and a one year high of $74.48.

Analyst Ratings Changes

A number of brokerages recently weighed in on NGG. StockNews.com raised National Grid from a “sell” rating to a “hold” rating in a research report on Wednesday, April 3rd. Jefferies Financial Group raised National Grid from a “hold” rating to a “buy” rating in a research report on Monday, February 5th. Deutsche Bank Aktiengesellschaft raised National Grid from a “hold” rating to a “buy” rating in a research report on Tuesday, January 16th. Finally, BNP Paribas raised National Grid from an “underperform” rating to an “outperform” rating in a research report on Tuesday, April 2nd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,165.00.

About National Grid

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.