Gilman Hill Asset Management LLC Boosts Position in National Grid plc (NYSE:NGG)

Gilman Hill Asset Management LLC raised its stake in National Grid plc (NYSE:NGG - Free Report) by 15.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 43,918 shares of the utilities provider's stock after buying an additional 5,815 shares during the quarter. Gilman Hill Asset Management LLC's holdings in National Grid were worth $2,881,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Whipplewood Advisors LLC acquired a new position in shares of National Grid during the 4th quarter valued at about $25,000. Brown Brothers Harriman & Co. raised its stake in National Grid by 67.6% during 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 boosted its holdings in National Grid by 145.6% in the 4th quarter. Larson Financial Group LLC now owns 700 shares of the utilities provider's stock valued at $42,000 after purchasing an additional 415 shares during the last quarter. Rothschild Investment LLC grew its stake 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 buying an additional 192 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of National Grid during the 4th quarter worth approximately $53,000. 4.68% of the stock is owned by institutional investors and hedge funds.

National Grid Trading Down 0.4%

Shares of NYSE NGG traded down $0.29 during trading on Friday, reaching $70.74. The stock had a trading volume of 536,940 shares, compared to its average volume of 741,024. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.54 and a current ratio of 1.61. The company has a market cap of $69.21 billion, a P/E ratio of 13.60, a PEG ratio of 5.64 and a beta of 0.63. National Grid plc has a fifty-two week low of $54.24 and a fifty-two week high of $74.82. The business's 50-day moving average price is $70.44 and its 200-day moving average price is $64.35.

National Grid Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Monday, July 28th. Shareholders of record on Friday, May 30th will be paid a dividend of $2.0345 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a yield of 4.7%. National Grid's dividend payout ratio (DPR) is presently 78.08%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Sanford C. Bernstein upgraded National Grid from a "market perform" rating to an "outperform" rating in a report on Monday, March 17th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of National Grid in a research note on Wednesday, May 21st. UBS Group downgraded National Grid from a "buy" rating to a "neutral" rating in a research report on Tuesday, April 29th. BNP Paribas Exane started coverage on shares of National Grid in a report on Thursday, May 29th. They issued an "outperform" rating and a $80.40 price objective on the stock. Finally, Citigroup reaffirmed a "neutral" rating on shares of National Grid in a research note on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, National Grid has a consensus rating of "Moderate Buy" and an average price target of $80.40.

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.