Hennion & Walsh Asset Management Inc. raised its stake in National Grid plc (NYSE:NGG - Free Report) by 82.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,630 shares of the utilities provider's stock after purchasing an additional 5,720 shares during the quarter. Hennion & Walsh Asset Management Inc.'s holdings in National Grid were worth $829,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Gradient Investments LLC grew its holdings in shares of National Grid by 2.0% in the first quarter. Gradient Investments LLC now owns 8,156 shares of the utilities provider's stock valued at $535,000 after acquiring an additional 163 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of National Grid by 20.0% in the fourth quarter. IFP Advisors Inc now owns 1,043 shares of the utilities provider's stock valued at $62,000 after acquiring an additional 174 shares in the last quarter. Rothschild Investment LLC grew its holdings in shares of National Grid by 36.2% in the fourth quarter. Rothschild Investment LLC now owns 723 shares of the utilities provider's stock valued at $43,000 after acquiring an additional 192 shares in the last quarter. Verdence Capital Advisors LLC grew its holdings in shares of National Grid by 0.8% in the fourth quarter. Verdence Capital Advisors LLC now owns 23,925 shares of the utilities provider's stock valued at $1,422,000 after acquiring an additional 196 shares in the last quarter. Finally, Brown Brothers Harriman & Co. grew its holdings in shares of National Grid by 67.6% in the fourth quarter. Brown Brothers Harriman & Co. now owns 491 shares of the utilities provider's stock valued at $29,000 after acquiring an additional 198 shares in the last quarter. 4.68% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on NGG shares. Citigroup reaffirmed a "neutral" rating on shares of National Grid in a report on Tuesday, May 6th. Royal Bank of Canada lowered National Grid from an "outperform" rating to a "sector perform" rating in a report on Wednesday, May 28th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of National Grid in a report on Wednesday, May 21st. UBS Group lowered National Grid from a "buy" rating to a "neutral" rating in a report on Tuesday, April 29th. Finally, Sanford C. Bernstein raised National Grid from a "market perform" rating to an "outperform" rating in a report on Monday, March 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, National Grid currently has an average rating of "Moderate Buy" and an average price target of $80.40.
Check Out Our Latest Report on National Grid
National Grid Stock Performance
NYSE NGG traded down $0.29 on Friday, hitting $70.74. 536,940 shares of the stock traded hands, compared to its average volume of 740,935. The business's fifty day moving average is $70.54 and its two-hundred day moving average is $64.40. National Grid plc has a 12 month low of $54.24 and a 12 month high of $74.82. The firm has a market capitalization of $69.21 billion, a price-to-earnings ratio of 13.60, a PEG ratio of 5.64 and a beta of 0.63. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.54 and a current ratio of 1.61.
National Grid Cuts Dividend
The business also recently announced a semi-annual dividend, which will be paid on Monday, July 28th. Shareholders of record on Friday, May 30th will be given 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 currently 78.08%.
National Grid Company Profile
(
Free Report)
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.
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