Fintel reports that BlackRock Inc. has filed a 13G form with the SEC disclosing ownership of 328.37MM shares of National Grid Plc (NGG). This represents 9.0% of the company.
In their previous filing dated February 1, 2022 they reported 305.57MM shares and 8.40% of the company, an increase in shares of 7.46% and an increase in total ownership of 0.60% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 7.25% Upside
As of January 25, 2023, the average one-year price target for National Grid is $68.67. The forecasts range from a low of $50.63 to a high of $79.59. The average price target represents an increase of 7.25% from its latest reported closing price of $64.03.
The projected annual revenue for National Grid is $19,027MM, a decrease of -9.19%. The projected annual EPS is $0.70, a decrease of -18.99%.
Fund Sentiment
There are 816 funds or institutions reporting positions in National Grid Plc. This is a decrease of 10 owner(s) or 1.21%.
Average portfolio weight of all funds dedicated to National Grid Plc is 0.4113%, a decrease of 7.4822%. Total shares owned by institutions decreased in the last three months by 5.40% to 510,415,138 shares.
What are large shareholders doing?
Renaissance Technologies Llc holds 4,179,654 shares representing 0.11% ownership of the company. In it's prior filing, the firm reported owning 4,670,354 shares, representing a decrease of 11.74%. The firm decreased its portfolio allocation in NGG by 14.81% over the last quarter.
Bank Of America Corp /de/ holds 2,860,040 shares representing 0.08% ownership of the company. In it's prior filing, the firm reported owning 3,076,136 shares, representing a decrease of 7.56%. The firm decreased its portfolio allocation in NGG by 22.21% over the last quarter.
Goldman Sachs Group Inc holds 1,293,329 shares representing 0.04% ownership of the company. In it's prior filing, the firm reported owning 1,484,362 shares, representing a decrease of 14.77%. The firm decreased its portfolio allocation in NGG by 28.99% over the last quarter.
Royal Bank Of Canada holds 1,269,476 shares representing 0.03% ownership of the company. In it's prior filing, the firm reported owning 1,250,477 shares, representing an increase of 1.50%. The firm decreased its portfolio allocation in NGG by 13.61% over the last quarter.
Jpmorgan Chase & Co holds 1,179,510 shares representing 0.03% ownership of the company. In it's prior filing, the firm reported owning 1,125,665 shares, representing an increase of 4.57%. The firm decreased its portfolio allocation in NGG by 13.96% over the last quarter.
National Grid Plc Background Information
(This description is provided by the company.)
National Grid plc is a British multinational electricity and gas utility company headquartered in London, England. Its principal activities are in the United Kingdom, where it owns and operates electricity and natural gas transmission networks, and in the Northeastern United States, where as well as operating transmission networks, the company produces and supplies electricity and gas, providing both to customers in New York, Massachusetts, and Rhode Island.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
