Oppenheimer Asset Management Inc. Acquires Shares of 8,124 National Grid plc (NYSE:NGG)

Oppenheimer Asset Management Inc. purchased a new position in shares of National Grid plc (NYSE:NGG - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,124 shares of the utilities provider's stock, valued at approximately $566,000.

Several other institutional investors and hedge funds also recently made changes to their positions in NGG. Bessemer Group Inc. bought a new stake in National Grid in the first quarter valued at approximately $29,000. Rothschild Investment LLC bought a new position in National Grid during the second quarter worth $37,000. Fortitude Family Office LLC acquired a new position in National Grid in the third quarter valued at $37,000. Eastern Bank acquired a new position in National Grid in the third quarter valued at $42,000. Finally, Mather Group LLC. boosted its position in National Grid by 89.9% during the second quarter. Mather Group LLC. now owns 900 shares of the utilities provider's stock valued at $51,000 after acquiring an additional 426 shares during the last quarter. Institutional investors and hedge funds own 4.68% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft began coverage on National Grid in a research report on Wednesday, October 2nd. They set a "buy" rating on the stock. Citigroup cut 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 five have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy".

National Grid Stock Down 0.5 %

Shares of NGG traded down $0.30 during trading hours on Wednesday, hitting $63.28. The stock had a trading volume of 549,425 shares, compared to its average volume of 534,378. National Grid plc has a 1-year low of $55.13 and a 1-year high of $73.40. The firm has a 50 day simple moving average of $66.57 and a 200-day simple moving average of $64.32. 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 declared a semi-annual dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Friday, November 22nd will be paid a dividend of $2.4939 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a yield of 4%.

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.