HighPoint Advisor Group LLC Invests $550,000 in National Grid plc (NYSE:NGG)

HighPoint Advisor Group LLC purchased a new position in National Grid plc (NYSE:NGG) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 8,095 shares of the utilities provider’s stock, valued at approximately $550,000.

Other hedge funds have also recently modified their holdings of the company. Creekmur Asset Management LLC purchased a new stake in shares of National Grid in the 4th quarter worth approximately $29,000. Cetera Trust Company N.A purchased a new stake in shares of National Grid in the 4th quarter worth approximately $51,000. Planned Solutions Inc. purchased a new stake in National Grid during the fourth quarter valued at approximately $53,000. UMB Bank n.a. lifted its position in National Grid by 22.7% during the fourth quarter. UMB Bank n.a. now owns 826 shares of the utilities provider’s stock valued at $56,000 after acquiring an additional 153 shares during the last quarter. Finally, GAMMA Investing LLC purchased a new stake in National Grid during the fourth quarter valued at approximately $59,000. Hedge funds and other institutional investors own 4.68% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on NGG. BNP Paribas raised shares of National Grid from an “underperform” rating to an “outperform” rating in a research report on Tuesday, April 2nd. The Goldman Sachs Group raised shares of National Grid from a “neutral” rating to a “buy” rating in a research report on Wednesday, June 12th. StockNews.com raised shares of National Grid from a “sell” rating to a “hold” rating in a research report on Wednesday, April 3rd. Finally, Citigroup raised shares of National Grid from a “neutral” rating to a “buy” rating in a research report on Monday, June 3rd. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,050.00.

National Grid Trading Up 1.3 %

Shares of National Grid stock opened at $56.50 on Thursday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.84 and a current ratio of 0.91. National Grid plc has a 12-month low of $55.13 and a 12-month high of $73.40. The firm’s 50 day simple moving average is $64.21 and its two-hundred day simple moving average is $66.22.

National Grid Increases Dividend

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

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.