Zions Bancorporation N.A. Has $7.22 Million Stock Holdings in National Grid plc (NYSE:NGG)

Zions Bancorporation N.A. lowered its stake in National Grid plc (NYSE:NGG) by 2.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 127,053 shares of the utilities provider’s stock after selling 3,299 shares during the quarter. National Grid comprises approximately 0.6% of Zions Bancorporation N.A.’s holdings, making the stock its 27th largest holding. Zions Bancorporation N.A.’s holdings in National Grid were worth $7,217,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in NGG. RFP Financial Group LLC lifted its stake in National Grid by 119.8% in the first 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 period. Headlands Technologies LLC bought a new stake in shares of National Grid in the 1st quarter valued at about $27,000. Richardson Financial Services Inc. acquired a new stake in shares of National Grid in the 1st quarter valued at approximately $28,000. Bessemer Group Inc. bought a new position in National Grid during the 1st quarter worth approximately $29,000. Finally, Creekmur Asset Management LLC bought a new position in National Grid during the 4th quarter worth approximately $29,000. 4.68% of the stock is currently owned by institutional investors.

National Grid Stock Performance

NGG stock opened at $69.27 on Friday. The stock has a 50-day moving average price of $64.33 and a two-hundred day moving average price of $64.49. National Grid plc has a 1 year low of $55.13 and a 1 year high of $73.40. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.41.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NGG. Citigroup raised National Grid from a “neutral” rating to a “buy” rating in a research note on Monday, June 3rd. The Goldman Sachs Group raised National Grid from a “neutral” rating to a “buy” rating in a research report on Wednesday, June 12th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company 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.