Graham Capital Management L.P. Acquires New Holdings in National Grid plc (NYSE:NGG)

Graham Capital Management L.P. purchased a new stake in National Grid plc (NYSE:NGG - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 3,528 shares of the utilities provider's stock, valued at approximately $210,000.

A number of other institutional investors have also recently added to or reduced their stakes in NGG. Raymond James Financial Inc. acquired a new stake in National Grid in the 4th quarter valued at $67,324,000. FMR LLC lifted 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 purchasing an additional 473,172 shares in the last quarter. ABC Arbitrage SA purchased a new position in National Grid in the 4th quarter valued at $21,706,000. D. E. Shaw & Co. Inc. lifted its holdings in National Grid by 5,134.3% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 330,706 shares of the utilities provider's stock valued at $19,651,000 after purchasing an additional 324,388 shares in the last quarter. Finally, Guardian Partners Inc. purchased a new position in National Grid in the 4th quarter valued at $9,849,000. Institutional investors and hedge funds own 4.68% of the company's stock.

National Grid Trading Up 1.6%

Shares of NYSE NGG traded up $1.15 during trading on Friday, hitting $74.78. 947,106 shares of the company were exchanged, compared to its average volume of 730,870. National Grid plc has a 12-month low of $54.24 and a 12-month high of $74.82. 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 fifty day moving average price of $68.96 and a 200-day moving average price of $63.78. The firm has a market capitalization of $73.17 billion, a PE ratio of 14.38, a P/E/G ratio of 5.64 and a beta of 0.63.

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 dividend of $2.0345 per share. The ex-dividend date is Friday, May 30th. This represents a dividend yield of 4.7%. National Grid's dividend payout ratio is presently 38.65%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on NGG shares. Wall Street Zen lowered National Grid from a "hold" rating to a "sell" rating in a report on Friday, May 16th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of National Grid in a report on Wednesday. UBS Group lowered National Grid from a "buy" rating to a "neutral" rating in a report on Tuesday, April 29th. Citigroup restated a "neutral" rating on shares of National Grid in a report on Tuesday, May 6th. Finally, Barclays restated an "overweight" rating on shares of National Grid in a report on Friday, May 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold".

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.