MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Takes $1.19 Million Position in National Grid plc (NYSE:NGG)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in National Grid plc (NYSE:NGG - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 20,093 shares of the utilities provider's stock, valued at approximately $1,194,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC purchased a new stake in shares of National Grid during the 4th quarter worth approximately $25,000. Brown Brothers Harriman & Co. increased its stake in shares of National Grid by 67.6% during 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 during the last quarter. Larson Financial Group LLC increased its stake 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 worth $42,000 after purchasing an additional 415 shares during the last quarter. Rothschild Investment LLC boosted its holdings in National Grid by 36.2% in the 4th quarter. Rothschild Investment LLC now owns 723 shares of the utilities provider's stock worth $43,000 after buying an additional 192 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp bought a new position in National Grid in the 4th quarter worth approximately $53,000. Hedge funds and other institutional investors own 4.68% of the company's stock.

National Grid Price Performance

Shares of National Grid stock traded down $0.01 on Thursday, hitting $72.67. 985,352 shares of the company traded hands, compared to its average volume of 739,900. The firm's 50-day simple moving average is $69.55 and its 200 day simple moving average is $63.99. 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 company has a market cap of $71.10 billion, a P/E ratio of 13.97, a P/E/G ratio of 5.64 and a beta of 0.63. National Grid plc has a 12-month low of $54.24 and a 12-month high of $74.82.

National Grid Cuts Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Monday, July 28th. Stockholders 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 (DPR) is currently 78.08%.

Wall Street Analyst Weigh In

Several research firms recently commented on NGG. Wall Street Zen downgraded shares of National Grid from a "hold" rating to a "sell" rating in a report on Friday, May 16th. Sanford C. Bernstein raised shares of National Grid from a "market perform" rating to an "outperform" rating in a report on Monday, March 17th. Barclays reissued an "overweight" rating on shares of National Grid in a report on Friday, May 16th. BNP Paribas began coverage on shares of National Grid in a report on Thursday. They issued an "outperform" rating for the company. Finally, UBS Group downgraded shares of National Grid from a "buy" rating to a "neutral" rating in a report on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a 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.

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.