Oppenheimer & Co. Inc. Makes New Investment in National Grid plc (NYSE:NGG)

Oppenheimer & Co. Inc. bought a new stake in National Grid plc (NYSE:NGG) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,587 shares of the utilities provider’s stock, valued at approximately $250,000.

A number of other large investors also recently made changes to their positions in the company. Ausbil Investment Management Ltd bought a new stake in National Grid during the third quarter worth $62,421,000. Hsbc Holdings PLC raised its stake in shares of National Grid by 11,704.2% during the 2nd quarter. Hsbc Holdings PLC now owns 650,060 shares of the utilities provider’s stock worth $36,917,000 after purchasing an additional 644,553 shares during the period. Mediolanum International Funds Ltd purchased a new position in shares of National Grid in the 3rd quarter worth about $38,021,000. Marshall Wace LLP bought a new position in National Grid during the second quarter valued at about $29,097,000. Finally, International Assets Investment Management LLC purchased a new stake in National Grid during the third quarter worth about $12,222,000. 4.68% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on NGG shares. Citigroup cut shares of National Grid from a “buy” rating to a “neutral” rating in a research note on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft began coverage on National Grid in a report on Wednesday, October 2nd. They set a “buy” rating for the company. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

National Grid Price Performance

Shares of NYSE:NGG opened at $63.15 on Friday. The firm has a market capitalization of $61.71 billion, a PE ratio of 13.02, a P/E/G ratio of 6.00 and a beta of 0.62. The company has a quick ratio of 1.54, a current ratio of 1.61 and a debt-to-equity ratio of 1.18. The company has a 50-day moving average price of $66.32 and a two-hundred day moving average price of $64.27. National Grid plc has a twelve month low of $55.13 and a twelve month high of $73.40.

National Grid Announces Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Tuesday, January 14th. Investors of record on Friday, November 22nd will be paid a dividend of $2.4939 per share. This represents a dividend yield of 4%. The ex-dividend date of this dividend is Friday, November 22nd. National Grid’s payout ratio is currently 102.06%.

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.