Park Avenue Securities LLC Raises Stock Holdings in National Grid plc (NYSE:NGG)

Park Avenue Securities LLC lifted its position in National Grid plc (NYSE:NGG - Free Report) by 17.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 35,012 shares of the utilities provider's stock after purchasing an additional 5,210 shares during the quarter. Park Avenue Securities LLC's holdings in National Grid were worth $2,297,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Oppenheimer & Co. Inc. lifted its holdings in shares of National Grid by 24.2% during the fourth quarter. Oppenheimer & Co. Inc. now owns 4,455 shares of the utilities provider's stock worth $265,000 after purchasing an additional 868 shares during the period. Atria Wealth Solutions Inc. acquired a new position in shares of National Grid during the 4th quarter worth approximately $239,000. Charles Schwab Investment Management Inc. boosted its stake in shares of National Grid by 5.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 65,013 shares of the utilities provider's stock valued at $3,863,000 after acquiring an additional 3,186 shares during the last quarter. IFP Advisors Inc raised its position 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 buying an additional 174 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of National Grid by 9,899.0% during the first quarter. GAMMA Investing LLC now owns 122,888 shares of the utilities provider's stock valued at $8,063,000 after buying an additional 121,659 shares during the period. 4.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NGG has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of National Grid in a research note on Wednesday, May 21st. Barclays reissued an "overweight" rating on shares of National Grid in a research note on Friday, May 16th. Royal Bank of Canada cut National Grid from an "outperform" rating to a "sector perform" rating in a report on Wednesday, May 28th. BNP Paribas Exane began coverage on shares of National Grid in a report on Thursday, May 29th. They set an "outperform" rating and a $80.40 price objective on the stock. Finally, BNP Paribas upgraded shares of National Grid from an "outperform" rating to a "strong-buy" rating in a report on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, National Grid has a consensus rating of "Moderate Buy" and an average target price of $80.40.

National Grid Trading Up 1.4%

Shares of National Grid stock traded up $1.01 during trading hours on Thursday, reaching $72.48. The stock had a trading volume of 310,398 shares, compared to its average volume of 764,077. The firm has a market capitalization of $70.92 billion, a price-to-earnings ratio of 13.94, a P/E/G ratio of 5.64 and a beta of 0.63. National Grid plc has a 1 year low of $53.19 and a 1 year high of $72.70. 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 firm has a 50 day simple moving average of $70.79 and a two-hundred day simple moving average of $64.56.

National Grid Cuts Dividend

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

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.