Wealth Enhancement Advisory Services LLC Boosts Stock Position in National Grid plc (NYSE:NGG)

Wealth Enhancement Advisory Services LLC lifted its holdings in shares of National Grid plc (NYSE:NGG - Free Report) by 119.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,025 shares of the utilities provider's stock after acquiring an additional 14,175 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in National Grid were worth $1,546,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Whipplewood Advisors LLC purchased a new position in shares of National Grid during the fourth quarter worth approximately $25,000. Brown Brothers Harriman & Co. lifted its holdings in shares of National Grid by 67.6% during the fourth 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 lifted its holdings in shares of National Grid by 145.6% during the fourth 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 lifted its holdings in shares of National Grid by 36.2% during the fourth 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 acquired a new stake in shares of National Grid during the fourth quarter worth $53,000. 4.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of National Grid in a report on Wednesday, May 21st. BNP Paribas raised National Grid from an "outperform" rating to a "strong-buy" rating in a report on Thursday, May 29th. Royal Bank of Canada downgraded National Grid from an "outperform" rating to a "sector perform" rating in a report on Wednesday, May 28th. UBS Group downgraded National Grid from a "buy" rating to a "neutral" rating in a report on Tuesday, April 29th. Finally, Citigroup reiterated a "neutral" rating on shares of National Grid in a research report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, National Grid currently has an average rating of "Moderate Buy" and an average price target of $80.40.

National Grid Price Performance

NYSE:NGG traded down $0.29 during trading hours on Friday, hitting $70.74. The company's stock had a trading volume of 536,940 shares, compared to its average volume of 740,667. The business's 50-day moving average is $70.54 and its two-hundred day moving average is $64.40. The company has a market capitalization of $69.21 billion, a PE ratio of 13.60, a PEG ratio of 5.64 and a beta of 0.63. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.54 and a current ratio of 1.61. National Grid plc has a 52-week low of $54.24 and a 52-week high of $74.82.

National Grid Cuts Dividend

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

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.