SeaCrest Wealth Management LLC Invests $218,000 in National Grid plc (NGG)
SeaCrest Wealth Management LLC purchased a new position in National Grid plc (NYSE:NGG) during the 4th quarter, Holdings Channel reports. The fund purchased 3,710 shares of the utilities provider’s stock, valued at approximately $218,000.
Other large investors have also added to or reduced their stakes in the company. Valeo Financial Advisors LLC acquired a new position in shares of National Grid in the third quarter worth about $103,000. Advisors Preferred LLC acquired a new position in shares of National Grid in the third quarter worth about $118,000. Steward Partners Investment Advisory LLC acquired a new position in shares of National Grid in the third quarter worth about $119,000. Krilogy Financial LLC acquired a new stake in National Grid during the third quarter valued at approximately $163,000. Finally, Lourd Capital LLC acquired a new stake in National Grid during the fourth quarter valued at approximately $205,000. Institutional investors and hedge funds own 5.54% of the company’s stock.
Several brokerages have issued reports on NGG. Zacks Investment Research cut National Grid from a “hold” rating to a “sell” rating in a research note on Wednesday, November 15th. Credit Suisse Group upgraded National Grid from an “underperform” rating to a “neutral” rating in a research note on Monday, November 27th. BNP Paribas upgraded National Grid from a “neutral” rating to an “outperform” rating in a research note on Monday, January 29th. ValuEngine upgraded National Grid from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Finally, Deutsche Bank upgraded National Grid from a “sell” rating to a “hold” rating in a research note on Wednesday, December 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $67.00.
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About National Grid
National Grid plc is an electricity and gas utility company focused on transmission and distribution activities in electricity and gas in both the United Kingdom and the United States. The Company’s segments include UK Electricity Transmission, which is engaged in high voltage electricity transmission networks in Great Britain; UK Gas Transmission, which is the gas transmission network in Great Britain and United Kingdom liquefied natural gas (LNG) storage activities; UK Gas Distribution, which includes approximately four of the eight regional networks of Great Britain’s gas distribution system, and US Regulated, which includes gas distribution networks, electricity distribution networks and high voltage electricity transmission networks in New York, and New England and electricity generation facilities in New York.
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