Point72 Asset Management L.P. purchased a new position in National Grid plc (NYSE:NGG - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 16,600 shares of the utilities provider's stock, valued at approximately $986,000.
A number of other institutional investors have also recently bought and sold shares of the stock. IFP Advisors Inc increased its stake in National Grid by 20.0% in the 4th quarter. IFP Advisors Inc now owns 1,043 shares of the utilities provider's stock worth $62,000 after purchasing an additional 174 shares in the last quarter. Rothschild Investment LLC boosted its position in National Grid by 36.2% during the 4th quarter. Rothschild Investment LLC now owns 723 shares of the utilities provider's stock worth $43,000 after acquiring an additional 192 shares during the period. Verdence Capital Advisors LLC boosted its position in National Grid by 0.8% during the 4th quarter. Verdence Capital Advisors LLC now owns 23,925 shares of the utilities provider's stock worth $1,422,000 after acquiring an additional 196 shares during the period. Brown Brothers Harriman & Co. boosted its position in 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 acquiring an additional 198 shares during the period. Finally, Congress Wealth Management LLC DE boosted its position in National Grid by 6.7% during the 4th quarter. Congress Wealth Management LLC DE now owns 3,678 shares of the utilities provider's stock worth $219,000 after acquiring an additional 230 shares during the period. Hedge funds and other institutional investors own 4.68% of the company's stock.
National Grid Stock Down 0.7%
Shares of National Grid stock traded down $0.52 during trading on Tuesday, hitting $74.27. 381,195 shares of the stock traded hands, compared to its average volume of 729,701. The company has a fifty day moving average price of $69.18 and a two-hundred day moving average price of $63.85. National Grid plc has a twelve month low of $54.24 and a twelve month high of $74.82. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.54 and a current ratio of 1.61. The stock has a market cap of $72.67 billion, a P/E ratio of 14.28, 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. Shareholders of record on Friday, May 30th will be given a $2.0345 dividend. This represents a yield of 4.7%. The ex-dividend date is Friday, May 30th. National Grid's dividend payout ratio is currently 78.08%.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on NGG shares. Citigroup restated a "neutral" rating on shares of National Grid in a research report on Tuesday, May 6th. Sanford C. Bernstein upgraded National Grid from a "market perform" rating to an "outperform" rating in a research report on Monday, March 17th. Wall Street Zen lowered National Grid from a "hold" rating to a "sell" rating in a research report on Friday, May 16th. Barclays restated an "overweight" rating on shares of National Grid in a research report on Friday, May 16th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of National Grid in a research report on Wednesday, May 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold".
View Our Latest Stock Report on NGG
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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