Jennison Associates LLC Purchases New Shares in National Grid plc (NYSE:NGG)

Jennison Associates LLC purchased a new position in shares of National Grid plc (NYSE:NGG - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 90,061 shares of the utilities provider's stock, valued at approximately $6,123,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NGG. CWM LLC lifted its position in National Grid by 29.4% during the 3rd quarter. CWM LLC now owns 3,282 shares of the utilities provider's stock worth $199,000 after buying an additional 746 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of National Grid by 17.0% in the 3rd quarter. IFP Advisors Inc now owns 1,506 shares of the utilities provider's stock valued at $91,000 after purchasing an additional 219 shares during the period. Exchange Traded Concepts LLC bought a new stake in shares of National Grid in the 3rd quarter valued at about $52,000. Aaron Wealth Advisors LLC bought a new stake in shares of National Grid in the 3rd quarter valued at about $230,000. Finally, Simplicity Solutions LLC raised its holdings in shares of National Grid by 5.7% in the 3rd quarter. Simplicity Solutions LLC now owns 11,897 shares of the utilities provider's stock valued at $721,000 after purchasing an additional 637 shares during the period. 4.68% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on NGG shares. StockNews.com raised shares of National Grid from a "sell" rating to a "hold" rating in a report on Wednesday, April 3rd. Jefferies Financial Group raised shares of National Grid from a "hold" rating to a "buy" rating in a report on Monday, February 5th. Deutsche Bank Aktiengesellschaft raised shares of National Grid from a "hold" rating to a "buy" rating in a report on Tuesday, January 16th. Finally, BNP Paribas raised shares of National Grid from an "underperform" rating to an "outperform" rating in a 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $1,165.00.

National Grid Price Performance

NGG traded down $0.45 on Friday, reaching $66.31. The company had a trading volume of 287,058 shares, compared to its average volume of 310,412. National Grid plc has a fifty-two week low of $56.40 and a fifty-two week high of $74.48. The company's fifty day moving average is $66.87 and its 200 day moving average is $65.74. The company has a quick ratio of 0.82, a current ratio of 0.93 and a debt-to-equity ratio of 1.43.

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.