Merewether Investment Management LP Has $62.60 Million Stock Holdings in National Grid plc (NYSE:NGG)

Merewether Investment Management LP grew its stake in shares of National Grid plc (NYSE:NGG - Free Report) by 10.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,053,461 shares of the utilities provider's stock after purchasing an additional 98,461 shares during the quarter. National Grid comprises about 2.5% of Merewether Investment Management LP's portfolio, making the stock its 14th biggest holding. Merewether Investment Management LP owned about 0.11% of National Grid worth $62,597,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in NGG. FMR LLC lifted its position in shares of National Grid by 11.9% during the 4th quarter. FMR LLC now owns 4,462,898 shares of the utilities provider's stock valued at $265,185,000 after acquiring an additional 473,172 shares during the period. JPMorgan Chase & Co. increased its stake in shares of National Grid by 5.1% in the fourth quarter. JPMorgan Chase & Co. now owns 1,405,185 shares of the utilities provider's stock valued at $83,496,000 after buying an additional 68,587 shares during the period. Raymond James Financial Inc. acquired a new position in shares of National Grid in the fourth quarter worth approximately $67,324,000. LPL Financial LLC lifted its stake in shares of National Grid by 3.3% in the fourth quarter. LPL Financial LLC now owns 781,572 shares of the utilities provider's stock worth $46,441,000 after acquiring an additional 25,082 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in National Grid by 1.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 706,290 shares of the utilities provider's stock valued at $41,968,000 after buying an additional 12,228 shares during the period. Institutional investors and hedge funds own 4.68% of the company's stock.

National Grid Price Performance

Shares of National Grid stock opened at $67.48 on Tuesday. The stock has a 50 day moving average of $67.29 and a 200 day moving average of $63.34. The firm has a market cap of $66.03 billion, a PE ratio of 12.98, a PEG ratio of 5.64 and a beta of 0.63. National Grid plc has a 12 month low of $54.24 and a 12 month high of $74.82. The company has a current ratio of 1.61, a quick ratio of 1.54 and a debt-to-equity ratio of 1.18.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on NGG shares. Sanford C. Bernstein upgraded National Grid from a "market perform" rating to an "outperform" rating in a report on Monday, March 17th. UBS Group cut National Grid from a "buy" rating to a "neutral" rating in a report on Tuesday, April 29th. StockNews.com upgraded National Grid from a "sell" rating to a "hold" rating in a research note on Wednesday, April 30th. Finally, Citigroup reiterated a "neutral" rating on shares of National Grid in a research report on Tuesday, May 6th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy".

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.

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