Wellington Management Group LLP Raises Stock Position in National Grid plc (NYSE:NGG)

Wellington Management Group LLP increased its holdings in shares of National Grid plc (NYSE:NGG) by 7.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 63,097 shares of the utilities provider’s stock after purchasing an additional 4,389 shares during the period. Wellington Management Group LLP’s holdings in National Grid were worth $4,396,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Rothschild Investment LLC purchased a new stake in shares of National Grid in the second quarter worth about $37,000. Fortitude Family Office LLC purchased a new position in National Grid in the 3rd quarter worth approximately $37,000. Eastern Bank purchased a new position in National Grid in the 3rd quarter worth approximately $42,000. Blue Trust Inc. grew its position in National Grid by 778.5% in the second quarter. Blue Trust Inc. now owns 1,063 shares of the utilities provider’s stock valued at $60,000 after acquiring an additional 942 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of National Grid during the third quarter valued at approximately $60,000. 4.68% of the stock is currently owned by institutional investors and hedge funds.

National Grid Stock Down 1.3 %

NGG stock opened at $58.83 on Tuesday. The company has a current ratio of 1.61, a quick ratio of 1.54 and a debt-to-equity ratio of 1.18. The firm has a 50 day simple moving average of $63.96 and a 200-day simple moving average of $63.55. The company has a market capitalization of $57.49 billion, a P/E ratio of 12.13, a PEG ratio of 5.53 and a beta of 0.62. National Grid plc has a twelve month low of $55.13 and a twelve month high of $73.40.

National Grid Announces Dividend

The business also recently announced a semi-annual dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Friday, November 22nd will be given a $2.4939 dividend. This represents a dividend yield of 4%. The ex-dividend date is Friday, November 22nd. National Grid’s payout ratio is currently 41.44%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on NGG shares. Deutsche Bank Aktiengesellschaft began coverage on shares of National Grid in a research note on Wednesday, October 2nd. They issued a “buy” rating for the company. Citigroup cut shares of National Grid from a “buy” rating to a “neutral” rating in a research report on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, 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.