Envestnet Asset Management Inc. Sells 78,007 Shares of National Grid plc (NYSE:NGG)

Envestnet Asset Management Inc. trimmed its holdings in National Grid plc (NYSE:NGG) by 5.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,275,211 shares of the utilities provider’s stock after selling 78,007 shares during the quarter. Envestnet Asset Management Inc. owned about 0.16% of National Grid worth $72,432,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of NGG. RFP Financial Group LLC boosted its position in National Grid by 119.8% in the 1st quarter. RFP Financial Group LLC now owns 367 shares of the utilities provider’s stock valued at $25,000 after buying an additional 200 shares during the last quarter. Headlands Technologies LLC acquired a new stake in National Grid in the first quarter worth about $27,000. Richardson Financial Services Inc. acquired a new stake in National Grid in the first quarter worth about $28,000. Bessemer Group Inc. bought a new stake in National Grid during the 1st quarter worth about $29,000. Finally, Creekmur Asset Management LLC bought a new position in shares of National Grid in the 4th quarter valued at about $29,000. 4.68% of the stock is owned by institutional investors.

National Grid Price Performance

NGG opened at $70.37 on Wednesday. The firm’s fifty day moving average is $64.91 and its two-hundred day moving average is $64.55. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.41. National Grid plc has a twelve month low of $55.13 and a twelve month high of $73.40.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on NGG shares. Citigroup raised shares of National Grid from a “neutral” rating to a “buy” rating in a research note on Monday, June 3rd. The Goldman Sachs Group raised shares of National Grid from a “neutral” rating to a “buy” rating in a research note on Wednesday, June 12th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently 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.