Fortitude Family Office LLC Takes $37,000 Position in National Grid plc (NYSE:NGG)

Fortitude Family Office LLC purchased a new stake in National Grid plc (NYSE:NGG) in the third quarter, HoldingsChannel reports. The firm purchased 534 shares of the utilities provider’s stock, valued at approximately $37,000.

Several other institutional investors have also added to or reduced their stakes in NGG. RFP Financial Group LLC raised its position in National Grid by 119.8% during the first quarter. RFP Financial Group LLC now owns 367 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 200 shares in the last quarter. Headlands Technologies LLC acquired a new position in National Grid during the first quarter valued at approximately $27,000. Richardson Financial Services Inc. acquired a new position in National Grid during the first quarter valued at approximately $28,000. Bessemer Group Inc. acquired a new position in National Grid during the first quarter valued at approximately $29,000. Finally, Rothschild Investment LLC acquired a new position in National Grid during the second quarter valued at approximately $37,000. 4.68% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on NGG. Citigroup downgraded shares of 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 report on Wednesday, October 2nd. They set a “buy” rating for the company. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

National Grid Stock Down 0.1 %

Shares of NYSE:NGG opened at $65.07 on Thursday. The company has a fifty day moving average of $67.64 and a 200-day moving average of $64.59. 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 52-week low of $55.13 and a 52-week high of $73.40.

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.