Tudor Investment Corp ET AL Lowers Position in National Grid plc (NYSE:NGG)

Tudor Investment Corp ET AL trimmed its position in shares of National Grid plc (NYSE:NGG - Free Report) by 52.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,366 shares of the utilities provider's stock after selling 85,404 shares during the quarter. Tudor Investment Corp ET AL's holdings in National Grid were worth $4,657,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Raymond James Financial Inc. bought a new stake in National Grid during the 4th quarter worth about $67,324,000. FMR LLC raised its holdings in National Grid by 11.9% during the fourth quarter. FMR LLC now owns 4,462,898 shares of the utilities provider's stock worth $265,185,000 after acquiring an additional 473,172 shares in the last quarter. ABC Arbitrage SA acquired a new position in National Grid during the fourth quarter valued at approximately $21,706,000. Guardian Partners Inc. bought a new position in National Grid in the fourth quarter valued at approximately $9,849,000. Finally, Summit Global Investments raised its stake in shares of National Grid by 166.7% during the 4th quarter. Summit Global Investments now owns 120,327 shares of the utilities provider's stock worth $7,150,000 after purchasing an additional 75,210 shares in the last quarter. Institutional investors and hedge funds own 4.68% of the company's stock.

National Grid Stock Performance

NYSE:NGG traded up $0.05 during trading on Wednesday, reaching $72.35. The company's stock had a trading volume of 121,611 shares, compared to its average volume of 685,466. The firm has a market cap of $70.79 billion, a price-to-earnings ratio of 13.91, a price-to-earnings-growth 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 debt-to-equity ratio of 1.18, a quick ratio of 1.54 and a current ratio of 1.61. The firm has a 50 day moving average of $66.61 and a 200-day moving average of $63.26.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Sanford C. Bernstein upgraded National Grid from a "market perform" rating to an "outperform" rating in a research report on Monday, March 17th. UBS Group cut shares of National Grid from a "buy" rating to a "neutral" rating in a research note on Tuesday, April 29th. StockNews.com upgraded shares of National Grid from a "sell" rating to a "hold" rating in a research report on Wednesday, April 30th. Finally, Citigroup reaffirmed a "neutral" rating on shares of National Grid in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average 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.