Squarepoint Ops LLC Increases Holdings in National Grid plc (NYSE:NGG)

Squarepoint Ops LLC raised its stake in National Grid plc (NYSE:NGG - Free Report) by 193.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,093 shares of the utilities provider's stock after buying an additional 15,228 shares during the quarter. Squarepoint Ops LLC's holdings in National Grid were worth $1,372,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Whipplewood Advisors LLC acquired a new stake in National Grid during the fourth quarter worth $25,000. Brown Brothers Harriman & Co. grew its holdings 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 worth $29,000 after purchasing an additional 198 shares during the period. Larson Financial Group LLC grew its holdings 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 worth $42,000 after purchasing an additional 415 shares during the period. Rothschild Investment LLC grew its holdings 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 worth $43,000 after purchasing an additional 192 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of National Grid during the 4th quarter worth $53,000. 4.68% of the stock is currently owned by hedge funds and other institutional investors.

National Grid Stock Down 0.7%

NYSE:NGG traded down $0.48 during midday trading on Tuesday, reaching $71.42. The company had a trading volume of 731,461 shares, compared to its average volume of 737,067. The firm has a market capitalization of $69.88 billion, a price-to-earnings ratio of 13.73, a PEG ratio of 5.64 and a beta of 0.63. The stock's fifty day simple moving average is $70.08 and its 200-day simple moving average is $64.19. National Grid plc has a 12-month low of $54.24 and a 12-month high of $74.82. 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 Cuts Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on NGG. BNP Paribas Exane began coverage on shares of National Grid in a research note on Thursday, May 29th. They set an "outperform" rating and a $80.40 target price for the company. Sanford C. Bernstein raised shares of National Grid from a "market perform" rating to an "outperform" rating in a research report on Monday, March 17th. Wall Street Zen cut shares of National Grid from a "hold" rating to a "sell" rating in a research report on Friday, May 16th. Citigroup restated a "neutral" rating on shares of National Grid in a research report on Tuesday, May 6th. 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 assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $80.40.

About National Grid

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.