Burns J W & Co. Inc. NY Sells 240 Shares of National Grid plc (NYSE:NGG)

Burns J W & Co. Inc. NY trimmed its stake in shares of National Grid plc (NYSE:NGG) by 5.4% during the 1st quarter, Holdings Channel.com reports. The fund owned 4,235 shares of the utilities provider’s stock after selling 240 shares during the quarter. Burns J W & Co. Inc. NY’s holdings in National Grid were worth $289,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Elevated Capital Advisors LLC grew its position in shares of National Grid by 4.7% in the 1st quarter. Elevated Capital Advisors LLC now owns 24,506 shares of the utilities provider’s stock worth $1,672,000 after buying an additional 1,090 shares during the last quarter. Gilman Hill Asset Management LLC grew its position in shares of National Grid by 16.1% in the 1st quarter. Gilman Hill Asset Management LLC now owns 34,039 shares of the utilities provider’s stock worth $2,322,000 after buying an additional 4,708 shares during the last quarter. Ballentine Partners LLC grew its position in shares of National Grid by 10.9% in the 1st quarter. Ballentine Partners LLC now owns 8,685 shares of the utilities provider’s stock worth $592,000 after buying an additional 856 shares during the last quarter. Park Avenue Securities LLC grew its position in shares of National Grid by 69.2% in the 1st quarter. Park Avenue Securities LLC now owns 29,036 shares of the utilities provider’s stock worth $1,981,000 after buying an additional 11,876 shares during the last quarter. Finally, Lantz Financial LLC grew its position in shares of National Grid by 11.2% in the 1st quarter. Lantz Financial LLC now owns 6,723 shares of the utilities provider’s stock worth $459,000 after buying an additional 677 shares during the last quarter. 4.68% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on NGG shares. The Goldman Sachs Group upgraded National Grid from a “neutral” rating to a “buy” rating in a research report on Wednesday, June 12th. Citigroup raised National Grid from a “neutral” rating to a “buy” rating in a research note on Monday, June 3rd. BNP Paribas raised National Grid from an “underperform” rating to an “outperform” rating in a research report on Tuesday, April 2nd. Finally, StockNews.com upgraded shares of National Grid from a “sell” rating to a “hold” rating in a report on Wednesday, April 3rd. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

National Grid Price Performance

Shares of NYSE NGG opened at $56.80 on Friday. 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 moving average of $63.16 and a 200 day moving average of $65.74. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.91 and a quick ratio of 0.84.

National Grid Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Friday, July 19th. Investors of record on Friday, June 7th will be given a dividend of $2.4939 per share. This is a boost from National Grid’s previous semi-annual dividend of $1.19. This represents a yield of 6%. The ex-dividend date of this dividend is Friday, June 7th.

About National Grid

National Grid plc transmits and distributes electricity and gas. The company 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.