First Trust Direct Indexing L.P. Decreases Stock Position in National Grid plc (NYSE:NGG)

First Trust Direct Indexing L.P. trimmed its position in shares of National Grid plc (NYSE:NGG) by 1.4% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 25,018 shares of the utilities provider’s stock after selling 356 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in National Grid were worth $1,707,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. UMB Bank n.a. lifted its holdings in National Grid by 22.7% in 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. NBC Securities Inc. grew its stake in shares of National Grid by 3.5% in the fourth quarter. NBC Securities Inc. now owns 4,514 shares of the utilities provider’s stock worth $306,000 after acquiring an additional 154 shares in the last quarter. Armstrong Advisory Group Inc. increased its position in shares of National Grid by 14.5% during the fourth quarter. Armstrong Advisory Group Inc. now owns 1,445 shares of the utilities provider’s stock worth $98,000 after acquiring an additional 183 shares during the period. Global Retirement Partners LLC raised its stake in shares of National Grid by 18.6% in the fourth quarter. Global Retirement Partners LLC now owns 1,301 shares of the utilities provider’s stock valued at $89,000 after acquiring an additional 204 shares in the last quarter. Finally, Raleigh Capital Management Inc. boosted its holdings in National Grid by 0.7% in the third quarter. Raleigh Capital Management Inc. now owns 32,085 shares of the utilities provider’s stock valued at $1,945,000 after purchasing an additional 209 shares during the period. 4.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NGG has been the topic of a number of recent research reports. BNP Paribas upgraded shares of National Grid from an “underperform” rating to an “outperform” rating in a research note on Tuesday, April 2nd. StockNews.com raised shares of National Grid from a “sell” rating to a “hold” rating in a research report on Wednesday, April 3rd. Citigroup raised National Grid from a “neutral” rating to a “buy” rating in a report on Monday, June 3rd. Finally, The Goldman Sachs Group upgraded 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 issued a buy rating to the company. According to MarketBeat, National Grid has an average rating of “Moderate Buy”.

National Grid Stock Up 2.9 %

Shares of NGG opened at $59.08 on Friday. The company’s 50 day simple moving average is $62.49 and its 200-day simple moving average is $65.46. National Grid plc has a 12-month low of $55.13 and a 12-month high of $73.40. 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 Increases Dividend

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

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.