Nuveen Asset Management LLC Decreases Stock Holdings in National Grid plc (NYSE:NGG)

Nuveen Asset Management LLC reduced its position in shares of National Grid plc (NYSE:NGG - Free Report) by 29.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 509,369 shares of the utilities provider's stock after selling 212,918 shares during the quarter. Nuveen Asset Management LLC owned 0.05% of National Grid worth $30,267,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. FMR LLC grew its stake in shares of National Grid by 11.9% during the 4th quarter. FMR LLC now owns 4,462,898 shares of the utilities provider's stock valued at $265,185,000 after purchasing an additional 473,172 shares during the period. JPMorgan Chase & Co. grew its stake in shares of National Grid by 5.1% during the 4th quarter. JPMorgan Chase & Co. now owns 1,405,185 shares of the utilities provider's stock valued at $83,496,000 after purchasing an additional 68,587 shares during the period. Raymond James Financial Inc. bought a new stake in shares of National Grid during the 4th quarter valued at about $67,324,000. Merewether Investment Management LP grew its stake in shares of National Grid by 10.3% during the 4th quarter. Merewether Investment Management LP now owns 1,053,461 shares of the utilities provider's stock valued at $62,597,000 after purchasing an additional 98,461 shares during the period. Finally, LPL Financial LLC grew its stake in shares of National Grid by 3.3% during the 4th quarter. LPL Financial LLC now owns 781,572 shares of the utilities provider's stock valued at $46,441,000 after purchasing an additional 25,082 shares during the period. 4.68% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NGG has been the subject of a number of recent research reports. Sanford C. Bernstein upgraded National Grid from a "market perform" rating to an "outperform" rating in a research note on Monday, March 17th. Citigroup reiterated a "neutral" rating on shares of National Grid in a research note on Tuesday, May 6th. Barclays reiterated an "overweight" rating on shares of National Grid in a research note on Friday, May 16th. UBS Group downgraded National Grid from a "buy" rating to a "neutral" rating in a research note on Tuesday, April 29th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of National Grid in a research note on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold".

National Grid Price Performance

NYSE NGG traded down $0.14 during trading hours on Tuesday, reaching $74.65. The company's stock had a trading volume of 2,441,964 shares, compared to its average volume of 737,715. The firm's 50-day moving average price is $69.37 and its 200-day moving average price is $63.93. The company has a quick ratio of 1.54, a current ratio of 1.61 and a debt-to-equity ratio of 1.18. National Grid plc has a 1 year low of $54.24 and a 1 year high of $74.82. The company has a market capitalization of $73.04 billion, a price-to-earnings ratio of 14.36, a PEG ratio of 5.64 and a beta of 0.63.

National Grid Cuts Dividend

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