JCIC Asset Management Inc. Invests $1.85 Million in National Grid plc (NYSE:NGG)

JCIC Asset Management Inc. acquired a new stake in shares of National Grid plc (NYSE:NGG - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 31,200 shares of the utilities provider's stock, valued at approximately $1,854,000.

Several other institutional investors have also added to or reduced their stakes in NGG. FMR LLC raised its stake in National Grid by 77.3% in the third quarter. FMR LLC now owns 3,989,726 shares of the utilities provider's stock worth $277,964,000 after buying an additional 1,739,566 shares in the last quarter. Merewether Investment Management LP purchased a new position in shares of National Grid during the 3rd quarter worth approximately $66,535,000. Ausbil Investment Management Ltd bought a new position in shares of National Grid in the 3rd quarter worth approximately $62,421,000. Hsbc Holdings PLC grew its stake in National Grid by 11,704.2% in the second quarter. Hsbc Holdings PLC now owns 650,060 shares of the utilities provider's stock worth $36,917,000 after purchasing an additional 644,553 shares during the period. Finally, Bank of Montreal Can grew its stake in National Grid by 3.1% in the third quarter. Bank of Montreal Can now owns 553,394 shares of the utilities provider's stock worth $38,588,000 after purchasing an additional 16,610 shares during the period. 4.68% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on NGG shares. Citigroup cut shares of National Grid from a "buy" rating to a "neutral" rating in a research report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of National Grid in a report on Wednesday, October 2nd. They set a "buy" rating for the company. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy".

National Grid Stock Up 0.6 %

National Grid stock traded up $0.34 during mid-day trading on Monday, reaching $56.47. The stock had a trading volume of 807,101 shares, compared to its average volume of 593,386. National Grid plc has a one year low of $55.13 and a one year high of $73.40. The company has a 50-day moving average price of $60.97 and a two-hundred day moving average price of $63.74. The company has a market capitalization of $55.18 billion, a price-to-earnings ratio of 11.69, a PEG ratio of 5.49 and a beta of 0.62. 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 Announces Dividend

The company also recently announced a semi-annual dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Friday, November 22nd will be paid a $2.4939 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a dividend yield of 4%. National Grid's dividend payout ratio is presently 41.61%.

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.