Atomi Financial Group Inc. Makes New Investment in National Grid plc (NYSE:NGG)

Atomi Financial Group Inc. bought a new position in shares of National Grid plc (NYSE:NGG) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 5,636 shares of the utilities provider’s stock, valued at approximately $393,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NGG. Capital International Investors acquired a new stake in National Grid during the 1st quarter worth $86,218,000. Hsbc Holdings PLC boosted its stake in National Grid by 11,704.2% during the 2nd quarter. Hsbc Holdings PLC now owns 650,060 shares of the utilities provider’s stock worth $36,917,000 after purchasing an additional 644,553 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of National Grid during the 2nd quarter worth $29,097,000. Bank of Montreal Can raised its holdings in shares of National Grid by 20.3% during the 2nd quarter. Bank of Montreal Can now owns 536,784 shares of the utilities provider’s stock worth $31,005,000 after acquiring an additional 90,722 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of National Grid by 128.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 148,184 shares of the utilities provider’s stock worth $8,417,000 after acquiring an additional 83,310 shares during the period. Institutional investors and hedge funds own 4.68% of the company’s stock.

Analyst Ratings Changes

NGG has been the topic of several analyst reports. Citigroup lowered National Grid from a “buy” rating to a “neutral” rating in a report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft initiated coverage on National Grid in a report on Wednesday, October 2nd. They set a “buy” rating on the stock. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy”.

National Grid Stock Up 0.8 %

Shares of NGG opened at $66.21 on Friday. 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 price is $66.96 and its 200 day moving average price is $64.64. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.84 and a current ratio of 0.91.

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.