Fulton Bank N.A. Acquires 5,497 Shares of National Grid plc (NYSE:NGG)

Fulton Bank N.A. boosted its holdings in shares of National Grid plc (NYSE:NGG - Free Report) by 15.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,832 shares of the utilities provider's stock after purchasing an additional 5,497 shares during the quarter. Fulton Bank N.A.'s holdings in National Grid were worth $2,745,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of NGG. SG Americas Securities LLC purchased a new stake in National Grid during the fourth quarter valued at $166,000. Pacer Advisors Inc. raised its stake in National Grid by 4.1% during the fourth quarter. Pacer Advisors Inc. now owns 8,620 shares of the utilities provider's stock valued at $512,000 after purchasing an additional 340 shares in the last quarter. Optas LLC raised its stake in National Grid by 17.0% during the fourth quarter. Optas LLC now owns 7,866 shares of the utilities provider's stock valued at $467,000 after purchasing an additional 1,141 shares in the last quarter. Brown Lisle Cummings Inc. raised its stake in National Grid by 11.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 5,040 shares of the utilities provider's stock valued at $299,000 after purchasing an additional 500 shares in the last quarter. Finally, Groesbeck Investment Management Corp NJ purchased a new stake in shares of National Grid in the fourth quarter valued at $353,000. Hedge funds and other institutional investors own 4.68% of the company's stock.

National Grid Trading Down 0.4%

Shares of NYSE NGG traded down $0.26 during mid-day trading on Wednesday, reaching $71.07. The company had a trading volume of 1,843,750 shares, compared to its average volume of 742,305. The business's 50-day moving average is $70.23 and its 200-day moving average is $64.24. The company has a current ratio of 1.61, a quick ratio of 1.54 and a debt-to-equity ratio of 1.18. The stock has a market cap of $69.54 billion, a price-to-earnings ratio of 13.67, a price-to-earnings-growth ratio of 5.64 and a beta of 0.63. National Grid plc has a 52 week low of $54.24 and a 52 week high of $74.82.

National Grid Cuts Dividend

The business also recently declared a semi-annual dividend, which will be paid on Monday, July 28th. Stockholders of record on Friday, May 30th will be issued a $2.0345 dividend. This represents a dividend yield of 4.7%. The ex-dividend date is Friday, May 30th. National Grid's payout ratio is presently 78.08%.

Analyst Upgrades and Downgrades

NGG has been the topic of several recent analyst reports. Citigroup reissued a "neutral" rating on shares of National Grid in a research note on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of National Grid in a research note on Wednesday, May 21st. BNP Paribas Exane initiated coverage on shares of National Grid in a research note on Thursday, May 29th. They issued an "outperform" rating and a $80.40 target price on the stock. Wall Street Zen downgraded shares of National Grid from a "hold" rating to a "sell" rating in a research note on Friday, May 16th. Finally, Royal Bank of Canada downgraded shares of National Grid from an "outperform" rating to a "sector perform" rating in a research note on Wednesday, May 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $80.40.

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.