Ameriprise Financial Inc. Decreases Stock Position in National Grid plc (NYSE:NGG)

Ameriprise Financial Inc. cut its holdings in shares of National Grid plc (NYSE:NGG - Free Report) by 10.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 232,744 shares of the utilities provider's stock after selling 28,364 shares during the quarter. Ameriprise Financial Inc.'s holdings in National Grid were worth $13,833,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in NGG. FMR LLC grew its holdings in National Grid by 11.9% in the 4th quarter. FMR LLC now owns 4,462,898 shares of the utilities provider's stock valued at $265,185,000 after buying an additional 473,172 shares during the period. JPMorgan Chase & Co. boosted its position in shares of National Grid by 5.1% in the fourth quarter. JPMorgan Chase & Co. now owns 1,405,185 shares of the utilities provider's stock worth $83,496,000 after acquiring an additional 68,587 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of National Grid in the fourth quarter worth approximately $67,324,000. LPL Financial LLC grew its holdings in National Grid by 3.3% in the fourth quarter. LPL Financial LLC now owns 781,572 shares of the utilities provider's stock valued at $46,441,000 after purchasing an additional 25,082 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in National Grid by 1.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 706,290 shares of the utilities provider's stock worth $41,968,000 after purchasing an additional 12,228 shares during the last quarter. 4.68% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NGG has been the subject of several research reports. Sanford C. Bernstein raised shares of National Grid from a "market perform" rating to an "outperform" rating in a research note on Monday, March 17th. Wall Street Zen downgraded National Grid from a "hold" rating to a "sell" rating in a research report on Friday, May 16th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of National Grid in a research note on Wednesday. Barclays reiterated an "overweight" rating on shares of National Grid in a report on Friday, May 16th. Finally, Citigroup restated a "neutral" rating on shares of National Grid in a report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold".

National Grid Stock Down 0.1%

NYSE:NGG traded down $0.08 during mid-day trading on Friday, hitting $73.55. The company had a trading volume of 186,781 shares, compared to its average volume of 733,236. The business has a fifty day simple moving average of $68.74 and a 200-day simple moving average of $63.72. The firm has a market capitalization of $71.97 billion, a price-to-earnings ratio of 14.13, a PEG ratio of 5.64 and a beta of 0.63. National Grid plc has a 1 year low of $54.24 and a 1 year high of $74.82. The company has a current ratio of 1.61, a quick ratio of 1.54 and a debt-to-equity ratio of 1.18.

National Grid Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Monday, July 28th. Stockholders of record on Friday, May 30th will be paid a $2.0345 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a dividend yield of 4.7%. National Grid's dividend payout ratio (DPR) is currently 38.65%.

National Grid 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.