National Grid plc (NYSE:NGG) Stake Lessened by Cresset Asset Management LLC

Cresset Asset Management LLC trimmed its stake in shares of National Grid plc (NYSE:NGG - Free Report) by 84.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,707 shares of the utilities provider's stock after selling 20,341 shares during the quarter. Cresset Asset Management LLC's holdings in National Grid were worth $224,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in NGG. Whipplewood Advisors LLC acquired a new position in National Grid during the 4th quarter worth $25,000. Brown Brothers Harriman & Co. lifted its holdings in National Grid by 67.6% in the fourth quarter. Brown Brothers Harriman & Co. now owns 491 shares of the utilities provider's stock worth $29,000 after purchasing an additional 198 shares during the period. Larson Financial Group LLC lifted its holdings in National Grid by 145.6% in the fourth quarter. Larson Financial Group LLC now owns 700 shares of the utilities provider's stock worth $42,000 after purchasing an additional 415 shares during the period. Rothschild Investment LLC grew its position in National Grid by 36.2% in the 4th quarter. Rothschild Investment LLC now owns 723 shares of the utilities provider's stock valued at $43,000 after buying an additional 192 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new position in National Grid during the 4th quarter valued at about $53,000. Institutional investors own 4.68% of the company's stock.

National Grid Trading Up 0.0%

Shares of NYSE NGG traded up $0.03 during mid-day trading on Thursday, hitting $73.60. 1,008,686 shares of the company traded hands, compared to its average volume of 733,628. The business has a 50 day moving average of $68.55 and a two-hundred day moving average of $63.65. The company has a quick ratio of 1.54, a current ratio of 1.61 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $72.01 billion, a price-to-earnings ratio of 14.15, 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.

National Grid Cuts Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on NGG shares. Wall Street Zen downgraded National Grid from a "hold" rating to a "sell" rating in a research note on Friday, May 16th. Citigroup reissued a "neutral" rating on shares of National Grid in a report on Tuesday, May 6th. Barclays restated an "overweight" rating on shares of National Grid in a research report on Friday, May 16th. UBS Group downgraded shares of National Grid from a "buy" rating to a "neutral" rating in a report on Tuesday, April 29th. Finally, 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. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, National Grid currently has a consensus rating of "Hold".

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.