JPMorgan Chase & Co. Sells 25,001 Shares of National Grid plc (NYSE:NGG)

JPMorgan Chase & Co. lessened its position in National Grid plc (NYSE:NGG) by 1.8% in the third quarter, Holdings Channel.com reports. The firm owned 1,336,598 shares of the utilities provider’s stock after selling 25,001 shares during the quarter. JPMorgan Chase & Co.’s holdings in National Grid were worth $93,121,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Franklin Resources Inc. bought a new stake in National Grid in the third quarter valued at approximately $316,000. Wilmington Savings Fund Society FSB bought a new position in shares of National Grid in the 3rd quarter worth about $312,000. World Investment Advisors LLC acquired a new position in shares of National Grid in the 3rd quarter valued at about $522,000. Coldstream Capital Management Inc. increased its holdings in National Grid by 5.1% in the third quarter. Coldstream Capital Management Inc. now owns 4,969 shares of the utilities provider’s stock worth $346,000 after purchasing an additional 242 shares in the last quarter. Finally, M&T Bank Corp lifted its stake in National Grid by 1.1% in the third quarter. M&T Bank Corp now owns 66,651 shares of the utilities provider’s stock valued at $4,644,000 after buying an additional 708 shares during the period. 4.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

National Grid Stock Up 0.2 %

NGG stock opened at $59.54 on Friday. 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 stock’s 50 day moving average is $61.95 and its 200-day moving average is $63.61. National Grid plc has a twelve month low of $55.13 and a twelve month high of $73.40. The firm has a market capitalization of $58.18 billion, a PE ratio of 12.33, a P/E/G ratio of 5.49 and a beta of 0.62.

National Grid Announces Dividend

The company also recently declared a semi-annual dividend, which will be paid on Tuesday, January 14th. Investors of record on Friday, November 22nd will be given 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 41.61%.

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.