National Grid plc (NYSE:NGG) Shares Purchased by Naviter Wealth LLC

Naviter Wealth LLC lifted its position in shares of National Grid plc (NYSE:NGG) by 7.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,325 shares of the utilities provider’s stock after buying an additional 1,177 shares during the quarter. Naviter Wealth LLC’s holdings in National Grid were worth $1,114,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of NGG. Intrust Bank NA lifted its stake in shares of National Grid by 1.8% during the 4th quarter. Intrust Bank NA now owns 16,654 shares of the utilities provider’s stock worth $1,132,000 after purchasing an additional 288 shares during the period. International Assets Investment Management LLC acquired a new position in shares of National Grid in the 4th quarter valued at $11,446,000. Leo Wealth LLC purchased a new stake in shares of National Grid during the 4th quarter valued at $1,431,000. Benjamin F. Edwards & Company Inc. increased its holdings in shares of National Grid by 383.6% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 14,446 shares of the utilities provider’s stock worth $982,000 after buying an additional 11,459 shares during the last quarter. Finally, Stifel Financial Corp increased its holdings in shares of National Grid by 11.6% during the 4th quarter. Stifel Financial Corp now owns 247,902 shares of the utilities provider’s stock worth $16,855,000 after buying an additional 25,673 shares during the last quarter. Hedge funds and other institutional investors own 4.68% of the company’s stock.

National Grid Trading Up 0.5 %

NGG stock opened at $57.41 on Wednesday. The stock has a 50-day simple moving average of $62.99 and a 200-day simple moving average of $65.63. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.41. National Grid plc has a 1 year low of $55.13 and a 1 year high of $73.40.

National Grid Increases Dividend

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

Wall Street Analyst Weigh In

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

National Grid Profile

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.