National Grid plc (NYSE:NGG) Position Trimmed by Old Port Advisors

Old Port Advisors lowered its stake in National Grid plc (NYSE:NGG) by 0.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 49,314 shares of the utilities provider’s stock after selling 439 shares during the period. Old Port Advisors’ holdings in National Grid were worth $2,930,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of NGG. FMR LLC boosted its holdings in shares of National Grid by 77.3% in the third quarter. FMR LLC now owns 3,989,726 shares of the utilities provider’s stock worth $277,964,000 after buying an additional 1,739,566 shares during the period. Merewether Investment Management LP purchased a new stake in shares of National Grid in the 3rd quarter valued at approximately $66,535,000. Ausbil Investment Management Ltd acquired a new position in National Grid in the 3rd quarter worth approximately $62,421,000. Hsbc Holdings PLC boosted its stake in National Grid by 11,704.2% in 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 period. Finally, Mediolanum International Funds Ltd purchased a new position in National Grid during the 3rd quarter worth approximately $38,021,000. Institutional investors and hedge funds own 4.68% of the company’s stock.

National Grid Stock Up 0.3 %

National Grid stock traded up $0.19 during trading hours on Thursday, hitting $59.61. The company had a trading volume of 151,547 shares, compared to its average volume of 543,686. National Grid plc has a fifty-two week low of $55.13 and a fifty-two week high of $73.40. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.61 and a quick ratio of 1.54. The firm has a market capitalization of $58.25 billion, a P/E ratio of 12.34, a price-to-earnings-growth ratio of 5.49 and a beta of 0.62. The firm’s fifty day moving average is $62.08 and its 200-day moving average is $63.63.

National Grid Dividend Announcement

The business also recently declared a semi-annual dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Friday, November 22nd will be paid a $2.4939 dividend. This represents a dividend yield of 4%. The ex-dividend date is Friday, November 22nd. National Grid’s dividend payout ratio (DPR) is presently 41.61%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Citigroup cut National Grid from a “buy” rating to a “neutral” rating in a research report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft started coverage on National Grid in a research note on Wednesday, October 2nd. They issued a “buy” rating for the company. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently 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.