Hennessy Advisors Inc. Sells 9,800 Shares of National Grid plc (NYSE:NGG)

Hennessy Advisors Inc. cut its position in National Grid plc (NYSE:NGG - Free Report) by 4.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 199,344 shares of the utilities provider's stock after selling 9,800 shares during the quarter. Hennessy Advisors Inc.'s holdings in National Grid were worth $13,079,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of NGG. Whipplewood Advisors LLC purchased a new stake in National Grid in the 4th quarter worth approximately $25,000. Brown Brothers Harriman & Co. lifted its stake in National Grid by 67.6% in the 4th quarter. Brown Brothers Harriman & Co. now owns 491 shares of the utilities provider's stock worth $29,000 after purchasing an additional 198 shares in the last quarter. SJS Investment Consulting Inc. purchased a new stake in National Grid in the 1st quarter worth approximately $29,000. Larson Financial Group LLC raised its position in shares of National Grid by 145.6% during the 4th quarter. Larson Financial Group LLC now owns 700 shares of the utilities provider's stock valued at $42,000 after buying an additional 415 shares in the last quarter. Finally, Rothschild Investment LLC raised its position in National Grid by 36.2% during the fourth quarter. Rothschild Investment LLC now owns 723 shares of the utilities provider's stock valued at $43,000 after purchasing an additional 192 shares in the last quarter. 4.68% of the stock is currently owned by hedge funds and other institutional investors.

National Grid Trading Up 0.3%

Shares of NGG stock traded up $0.24 during mid-day trading on Tuesday, reaching $71.64. The stock had a trading volume of 1,530,372 shares, compared to its average volume of 765,158. National Grid plc has a 52-week low of $53.19 and a 52-week high of $73.03. 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's 50-day moving average price is $71.36 and its two-hundred day moving average price is $64.77. The firm has a market capitalization of $70.10 billion, a PE ratio of 13.78, a price-to-earnings-growth 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. Investors of record on Friday, May 30th will be given a dividend of $2.0345 per share. This represents a dividend yield of 4.7%. The ex-dividend date is Friday, May 30th. National Grid's dividend payout ratio is currently 78.08%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Wall Street Zen downgraded National Grid from a "hold" rating to a "sell" rating in a research report on Friday, May 16th. Sanford C. Bernstein upgraded National Grid from a "market perform" rating to an "outperform" rating in a research report on Monday, March 17th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of National Grid in a research report on Wednesday, May 21st. BNP Paribas Exane initiated coverage on shares of National Grid in a research report on Thursday, May 29th. They issued an "outperform" rating and a $80.40 target price on the stock. Finally, Barclays reiterated an "overweight" rating on shares of National Grid in a research report on Friday, May 16th. One analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, National Grid currently has a consensus rating of "Moderate Buy" and an average target price 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.