Burney Co. Buys Shares of 10,164 National Grid plc (NYSE:NGG)

Burney Co. acquired a new position in shares of National Grid plc (NYSE:NGG - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 10,164 shares of the utilities provider's stock, valued at approximately $604,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FMR LLC increased its position in shares of National Grid by 77.3% during the third quarter. FMR LLC now owns 3,989,726 shares of the utilities provider's stock worth $277,964,000 after purchasing an additional 1,739,566 shares in the last quarter. Merewether Investment Management LP purchased a new stake in shares of National Grid during the third quarter worth $66,535,000. Ausbil Investment Management Ltd acquired a new stake in shares of National Grid in the third quarter valued at about $62,421,000. Hsbc Holdings PLC lifted its stake in shares of 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 buying an additional 644,553 shares in the last quarter. Finally, Bank of Montreal Can boosted its position in National Grid by 3.1% during the third quarter. Bank of Montreal Can now owns 553,394 shares of the utilities provider's stock worth $38,588,000 after acquiring an additional 16,610 shares during the last quarter. 4.68% of the stock is owned by hedge funds and other institutional investors.

National Grid Price Performance

NYSE:NGG traded up $0.42 on Friday, hitting $59.57. The stock had a trading volume of 1,669,883 shares, compared to its average volume of 520,459. The company has a fifty day moving average price of $60.47 and a two-hundred day moving average price of $63.68. National Grid plc has a 1-year low of $55.13 and a 1-year high of $73.40. 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 Dividend Announcement

The firm also recently disclosed a semi-annual dividend, which was paid on Tuesday, January 14th. Investors of record on Friday, November 22nd were issued a $2.4939 dividend. This represents a yield of 4%. The ex-dividend date of this dividend was Friday, November 22nd.

Analyst Ratings Changes

A number of research analysts have weighed in on NGG shares. Citigroup lowered shares of National Grid from a "buy" rating to a "neutral" rating in a research note on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft assumed coverage on National Grid in a research note 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 data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy".

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.