Park Avenue Securities LLC Boosts Position in National Grid plc (NYSE:NGG)

Park Avenue Securities LLC increased its holdings in National Grid plc (NYSE:NGG - Free Report) by 27.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,802 shares of the utilities provider's stock after purchasing an additional 6,423 shares during the period. Park Avenue Securities LLC's holdings in National Grid were worth $1,771,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Fortitude Family Office LLC bought a new position in National Grid in the 3rd quarter worth about $37,000. Eastern Bank purchased a new position in National Grid during the 3rd quarter worth $42,000. Quantbot Technologies LP bought a new stake in National Grid during the 3rd quarter valued at $60,000. Addison Advisors LLC lifted its holdings in shares of National Grid by 267.9% in the 3rd quarter. Addison Advisors LLC now owns 986 shares of the utilities provider's stock worth $69,000 after buying an additional 718 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of National Grid by 45.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,005 shares of the utilities provider's stock worth $70,000 after buying an additional 314 shares in the last quarter. Institutional investors own 4.68% of the company's stock.

National Grid Trading Up 0.7 %

Shares of NYSE NGG traded up $0.42 during trading on Friday, hitting $59.57. The company had a trading volume of 1,669,883 shares, compared to its average volume of 520,459. National Grid plc has a fifty-two week low of $55.13 and a fifty-two week high of $73.40. The stock has a fifty day simple moving average of $60.47 and a two-hundred day simple moving average of $63.73. The company has a quick ratio of 1.54, a current ratio of 1.61 and a debt-to-equity ratio of 1.18.

National Grid Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on NGG shares. Citigroup lowered National Grid from a "buy" rating to a "neutral" rating in a report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft initiated coverage on National Grid in a research note on Wednesday, October 2nd. They issued a "buy" rating on the stock. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, National Grid currently has a consensus 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.