Point72 Asset Management L.P. Takes $986,000 Position in National Grid plc (NYSE:NGG)

Point72 Asset Management L.P. purchased a new stake in shares of National Grid plc (NYSE:NGG - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 16,600 shares of the utilities provider's stock, valued at approximately $986,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NGG. Whipplewood Advisors LLC purchased a new stake in shares of National Grid during the 4th quarter valued at about $25,000. Brown Brothers Harriman & Co. increased its position 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 valued at $29,000 after purchasing an additional 198 shares during the last quarter. Larson Financial Group LLC increased its position 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 valued at $42,000 after purchasing an additional 415 shares during the last quarter. Rothschild Investment LLC increased its position in shares of National Grid by 36.2% during the 4th quarter. Rothschild Investment LLC now owns 723 shares of the utilities provider's stock valued at $43,000 after purchasing an additional 192 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of National Grid during the 4th quarter valued at about $53,000. Hedge funds and other institutional investors own 4.68% of the company's stock.

National Grid Trading Up 0.2%

Shares of NGG opened at $73.57 on Thursday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.61 and a quick ratio of 1.54. National Grid plc has a 1 year low of $54.24 and a 1 year high of $74.82. The company has a 50 day simple moving average of $68.55 and a two-hundred day simple moving average of $63.65. The firm has a market cap of $71.98 billion, a P/E ratio of 14.15, a price-to-earnings-growth ratio of 5.64 and a beta of 0.63.

National Grid Cuts Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Monday, July 28th. Shareholders of record on Friday, May 30th will be issued a dividend of $2.0345 per share. This represents a yield of 4.7%. The ex-dividend date of this dividend is Friday, May 30th. National Grid's dividend payout ratio (DPR) is currently 38.65%.

Analyst Ratings Changes

NGG has been the subject of several analyst reports. Barclays reissued an "overweight" rating on shares of National Grid 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. Citigroup reissued a "neutral" rating on shares of National Grid in a report on Tuesday, May 6th. UBS Group lowered shares of National Grid from a "buy" rating to a "neutral" rating in a report on Tuesday, April 29th. Finally, StockNews.com lowered shares of National Grid from a "hold" rating to a "sell" rating in a report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold".

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.

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