Beach Investment Counsel Inc. PA Sells 5,190 Shares of National Grid plc (NYSE:NGG)

Beach Investment Counsel Inc. PA lowered its holdings in shares of National Grid plc (NYSE:NGG - Free Report) by 13.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,808 shares of the utilities provider's stock after selling 5,190 shares during the quarter. Beach Investment Counsel Inc. PA's holdings in National Grid were worth $2,068,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Pathstone Holdings LLC increased its holdings in shares of National Grid by 46.0% during the third quarter. Pathstone Holdings LLC now owns 36,202 shares of the utilities provider's stock worth $2,522,000 after purchasing an additional 11,402 shares during the period. XTX Topco Ltd purchased a new stake in National Grid in the 3rd quarter valued at $1,624,000. Icon Wealth Advisors LLC lifted its holdings in National Grid by 1,620.2% during the third quarter. Icon Wealth Advisors LLC now owns 38,480 shares of the utilities provider's stock worth $2,681,000 after acquiring an additional 36,243 shares during the period. Natixis Advisors LLC boosted its stake in National Grid by 51.9% in the third quarter. Natixis Advisors LLC now owns 111,526 shares of the utilities provider's stock valued at $7,770,000 after acquiring an additional 38,123 shares during the last quarter. Finally, National Bank of Canada FI raised its stake in shares of National Grid by 351.1% in the third quarter. National Bank of Canada FI now owns 207,116 shares of the utilities provider's stock valued at $14,429,000 after buying an additional 161,204 shares during the period. Institutional investors own 4.68% of the company's stock.

Analysts Set New Price Targets

Separately, Citigroup upgraded National Grid from a "neutral" rating to a "buy" rating in a report on Tuesday, January 21st. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy".

National Grid Stock Up 1.9 %

NGG traded up $1.20 on Wednesday, reaching $63.06. 237,878 shares of the stock were exchanged, compared to its average volume of 856,690. National Grid plc has a fifty-two week low of $55.13 and a fifty-two week 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. The company's 50-day moving average price is $59.99 and its 200 day moving average price is $63.76.

National Grid Announces Dividend

The business 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. The ex-dividend date was Friday, November 22nd. This represents a yield of 4%.

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.