Versant Capital Management Inc Purchases 6,076 Shares of National Grid plc (NYSE:NGG)

Versant Capital Management Inc boosted its position in shares of National Grid plc (NYSE:NGG - Free Report) by 3,148.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,269 shares of the utilities provider's stock after acquiring an additional 6,076 shares during the quarter. Versant Capital Management Inc's holdings in National Grid were worth $411,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NGG. Raymond James Financial Inc. purchased a new stake in National Grid during the fourth quarter valued at approximately $67,324,000. FMR LLC increased its holdings in National Grid by 11.9% during the fourth quarter. FMR LLC now owns 4,462,898 shares of the utilities provider's stock valued at $265,185,000 after buying an additional 473,172 shares during the last quarter. ABC Arbitrage SA purchased a new stake in National Grid during the fourth quarter valued at approximately $21,706,000. D. E. Shaw & Co. Inc. increased its position in National Grid by 5,134.3% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 330,706 shares of the utilities provider's stock worth $19,651,000 after buying an additional 324,388 shares in the last quarter. Finally, Guardian Partners Inc. purchased a new stake in National Grid in the fourth quarter worth about $9,849,000. 4.68% of the stock is owned by hedge funds and other institutional investors.

National Grid Price Performance

NGG traded down $0.57 during trading on Tuesday, hitting $71.33. 1,019,488 shares of the company traded hands, compared to its average volume of 882,431. The company has a market cap of $69.80 billion, a PE ratio of 13.72, a P/E/G ratio of 5.64 and a beta of 0.63. The stock's 50-day simple moving average is $70.08 and its two-hundred day simple moving average is $64.19. The company has a current ratio of 1.61, a quick ratio of 1.54 and a debt-to-equity ratio of 1.18. National Grid plc has a 1 year low of $55.13 and a 1 year high of $74.82.

National Grid Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have commented on NGG shares. Sanford C. Bernstein upgraded National Grid from a "market perform" rating to an "outperform" rating in a research report on Monday, March 17th. UBS Group cut National Grid from a "buy" rating to a "neutral" rating in a research report on Tuesday, April 29th. Citigroup restated a "neutral" rating on shares of National Grid in a research report on Tuesday, May 6th. Royal Bank of Canada cut National Grid from an "outperform" rating to a "sector perform" rating in a research report on Wednesday, May 28th. Finally, BNP Paribas upgraded National Grid from an "outperform" rating to a "strong-buy" rating in a research report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $80.40.

National Grid 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.