Barclays PLC Sells 60,000 Shares of National Grid plc (NYSE:NGG)

Barclays PLC cut its holdings in shares of National Grid plc (NYSE:NGG - Free Report) by 71.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,800 shares of the utilities provider's stock after selling 60,000 shares during the period. Barclays PLC's holdings in National Grid were worth $1,658,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC lifted its stake in National Grid by 77.3% during the third quarter. FMR LLC now owns 3,989,726 shares of the utilities provider's stock valued at $277,964,000 after purchasing an additional 1,739,566 shares during the last quarter. Merewether Investment Management LP acquired a new stake in shares of National Grid during the 3rd quarter valued at about $66,535,000. Ausbil Investment Management Ltd acquired a new stake in National Grid in the third quarter valued at approximately $62,421,000. Hsbc Holdings PLC raised its holdings in shares of National Grid by 11,704.2% during the 2nd quarter. Hsbc Holdings PLC now owns 650,060 shares of the utilities provider's stock valued at $36,917,000 after purchasing an additional 644,553 shares in the last quarter. Finally, Mediolanum International Funds Ltd bought a new stake in National Grid in the third quarter worth $38,021,000. Institutional investors own 4.68% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Citigroup lowered shares of National Grid from a "buy" rating to a "neutral" rating in a research report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft initiated coverage on National Grid in a research report on Wednesday, October 2nd. They set a "buy" rating on the stock. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy".

National Grid Trading Up 0.7 %

National Grid stock traded up $0.39 during mid-day trading on Friday, hitting $59.31. 632,639 shares of the company's stock were exchanged, compared to its average volume of 544,212. The company has a quick ratio of 1.54, a current ratio of 1.61 and a debt-to-equity ratio of 1.18. National Grid plc has a fifty-two week low of $55.13 and a fifty-two week high of $73.40. The company's 50 day simple moving average is $62.52 and its 200-day simple moving average is $63.58. The firm has a market capitalization of $57.96 billion, a P/E ratio of 12.28, a PEG ratio of 5.49 and a beta of 0.62.

National Grid Announces Dividend

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

National Grid 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.