National Grid plc (NYSE:NGG) Shares Sold by Allworth Financial LP

Allworth Financial LP reduced its stake in shares of National Grid plc (NYSE:NGG) by 8.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,726 shares of the utilities provider’s stock after selling 261 shares during the quarter. Allworth Financial LP’s holdings in National Grid were worth $190,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Capital International Investors bought a new position in National Grid during the 1st quarter valued at $86,218,000. Ausbil Investment Management Ltd purchased a new stake in shares of National Grid in the 3rd quarter valued at approximately $62,421,000. Hsbc Holdings PLC boosted its position in shares of National Grid by 11,704.2% in the second quarter. Hsbc Holdings PLC now owns 650,060 shares of the utilities provider’s stock worth $36,917,000 after buying an additional 644,553 shares during the period. Mediolanum International Funds Ltd purchased a new position in National Grid during the 3rd quarter valued at about $38,021,000. Finally, Marshall Wace LLP acquired a new position in National Grid in the 2nd quarter valued at approximately $29,097,000. Institutional investors and hedge funds own 4.68% of the company’s stock.

National Grid Stock Performance

NYSE:NGG opened at $65.07 on Thursday. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.91 and a quick ratio of 0.84. National Grid plc has a 12 month low of $55.13 and a 12 month high of $73.40. The company’s 50 day moving average is $67.64 and its 200-day moving average is $64.59.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on NGG. Citigroup lowered National Grid from a “buy” rating to a “neutral” rating in a research report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of National Grid in a research note on Wednesday, October 2nd. They issued a “buy” rating for the company. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, National Grid has an average rating of “Moderate Buy”.

About National Grid

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.