Hennion & Walsh Asset Management Inc. bought a new stake in National Grid plc (NYSE:NGG - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 6,910 shares of the utilities provider's stock, valued at approximately $411,000.
Several other hedge funds also recently bought and sold shares of the stock. FMR LLC grew its stake in National Grid by 77.3% during the 3rd 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 acquired a new position in shares of National Grid during the third quarter worth about $66,535,000. Ausbil Investment Management Ltd purchased a new stake in shares of National Grid during the third quarter worth approximately $62,421,000. Bank of Montreal Can raised its holdings 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 valued at $38,588,000 after acquiring an additional 16,610 shares in the last quarter. Finally, Mediolanum International Funds Ltd purchased a new position in National Grid in the third quarter worth approximately $38,021,000. Hedge funds and other institutional investors own 4.68% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on NGG shares. Deutsche Bank Aktiengesellschaft assumed coverage on shares of National Grid in a report on Wednesday, October 2nd. They issued a "buy" rating on the stock. Citigroup raised National Grid from a "neutral" rating to a "buy" rating in a report on Tuesday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy".
Get Our Latest Stock Analysis on NGG
National Grid Trading Up 3.3 %
Shares of NYSE NGG traded up $1.99 during mid-day trading on Tuesday, reaching $61.52. The company had a trading volume of 1,634,255 shares, compared to its average volume of 871,310. National Grid plc has a 52-week low of $55.13 and a 52-week high of $73.40. The company has a current ratio of 1.61, a quick ratio of 1.54 and a debt-to-equity ratio of 1.18. The firm has a 50 day simple moving average of $60.38 and a two-hundred day simple moving average of $63.76.
National Grid Announces Dividend
The company also recently disclosed a semi-annual dividend, which was paid on Tuesday, January 14th. Stockholders of record on Friday, November 22nd were issued a $2.4939 dividend. This represents a dividend yield of 4%. The ex-dividend date of this dividend was Friday, November 22nd.
About National Grid
(
Free Report)
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.
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