GAMMA Investing LLC Increases Stock Position in National Grid plc (NYSE:NGG)

GAMMA Investing LLC lifted its position in National Grid plc (NYSE:NGG - Free Report) by 9,899.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 122,888 shares of the utilities provider's stock after buying an additional 121,659 shares during the quarter. GAMMA Investing LLC's holdings in National Grid were worth $8,063,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of NGG. Whipplewood Advisors LLC purchased a new position in shares of National Grid in the 4th quarter valued at about $25,000. Brown Brothers Harriman & Co. lifted its stake 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 acquiring an additional 198 shares during the last quarter. Larson Financial Group LLC grew its holdings in National Grid by 145.6% during the 4th quarter. Larson Financial Group LLC now owns 700 shares of the utilities provider's stock worth $42,000 after acquiring an additional 415 shares in the last quarter. Rothschild Investment LLC increased its position in shares of 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 purchasing an additional 192 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of National Grid in the 4th quarter valued at approximately $53,000. Institutional investors and hedge funds own 4.68% of the company's stock.

National Grid Stock Performance

Shares of NYSE:NGG traded up $0.04 on Tuesday, reaching $71.16. The company's stock had a trading volume of 656,752 shares, compared to its average volume of 764,637. National Grid plc has a 52-week low of $52.70 and a 52-week high of $72.70. The stock has a market capitalization of $69.63 billion, a P/E ratio of 13.69, a PEG ratio of 5.64 and a beta of 0.63. The stock's 50-day moving average is $70.65 and its two-hundred day moving average is $64.47. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.61 and a quick ratio of 1.54.

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 issued a $2.0345 dividend. This represents a dividend yield of 4.7%. The ex-dividend date of this dividend is Friday, May 30th. National Grid's payout ratio is currently 78.08%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on NGG shares. Barclays reissued an "overweight" rating on shares of National Grid in a report on Friday, May 16th. BNP Paribas Exane initiated coverage on National Grid in a research report on Thursday, May 29th. They set an "outperform" rating and a $80.40 target price on the stock. BNP Paribas raised shares of National Grid from an "outperform" rating to a "strong-buy" rating in a research report on Thursday, May 29th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of National Grid in a research note on Wednesday, May 21st. Finally, Sanford C. Bernstein upgraded National Grid from a "market perform" rating to an "outperform" rating in a research report on Monday, March 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $80.40.

National Grid Company 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.