National Grid plc (NYSE:NGG) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its stake in National Grid plc (NYSE:NGG - Free Report) by 1.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,336,598 shares of the utilities provider's stock after selling 25,001 shares during the period. JPMorgan Chase & Co. owned approximately 0.14% of National Grid worth $93,121,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Rothschild Investment LLC acquired a new stake in shares of National Grid in the second quarter valued at $37,000. Fortitude Family Office LLC acquired a new position in shares of National Grid in the third quarter valued at approximately $37,000. Eastern Bank purchased a new stake in National Grid during the 3rd quarter worth approximately $42,000. Quantbot Technologies LP acquired a new stake in National Grid during the 3rd quarter worth approximately $60,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in National Grid during the 2nd quarter worth approximately $68,000. Hedge funds and other institutional investors own 4.68% of the company's stock.

Analyst Upgrades and Downgrades

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

National Grid Stock Down 0.7 %

Shares of NYSE NGG traded down $0.39 during mid-day trading on Friday, reaching $59.15. The company had a trading volume of 391,052 shares, compared to its average volume of 453,026. The firm has a 50 day simple moving average of $61.95 and a two-hundred day simple moving average of $63.61. 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 stock has a market cap of $57.80 billion, a P/E ratio of 12.25, a PEG ratio of 5.49 and a beta of 0.62.

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 given a dividend of $2.4939 per share. This represents a dividend yield of 4%. The ex-dividend date is Friday, November 22nd. National Grid's dividend payout ratio (DPR) is currently 41.61%.

National Grid Company 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.