Barclays PLC Sells 60,000 Shares of National Grid plc (NYSE:NGG)

Barclays PLC cut its stake in shares of National Grid plc (NYSE:NGG) by 71.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,800 shares of the utilities provider’s stock after selling 60,000 shares during the quarter. Barclays PLC’s holdings in National Grid were worth $1,658,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Pathstone Holdings LLC grew its stake in shares of National Grid by 46.0% in the third quarter. Pathstone Holdings LLC now owns 36,202 shares of the utilities provider’s stock worth $2,522,000 after acquiring an additional 11,402 shares during the period. XTX Topco Ltd purchased a new position in National Grid during the third quarter valued at $1,624,000. Natixis Advisors LLC grew its holdings in National Grid by 51.9% during the third quarter. Natixis Advisors LLC now owns 111,526 shares of the utilities provider’s stock valued at $7,770,000 after purchasing an additional 38,123 shares during the period. Icon Wealth Advisors LLC increased its position in National Grid by 1,620.2% in the third quarter. Icon Wealth Advisors LLC now owns 38,480 shares of the utilities provider’s stock worth $2,681,000 after buying an additional 36,243 shares in the last quarter. Finally, National Bank of Canada FI raised its stake in shares of National Grid by 351.1% in the third quarter. National Bank of Canada FI now owns 207,116 shares of the utilities provider’s stock worth $14,429,000 after buying an additional 161,204 shares during the period. Hedge funds and other institutional investors own 4.68% of the company’s stock.

Analysts Set New Price Targets

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

National Grid Price Performance

Shares of National Grid stock opened at $59.31 on Friday. National Grid plc has a one year low of $55.13 and a one year high of $73.40. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.54 and a current ratio of 1.61. The stock has a 50 day moving average price of $62.52 and a 200-day moving average price of $63.52. The stock has a market cap of $57.96 billion, a price-to-earnings ratio of 12.28, a price-to-earnings-growth ratio of 5.49 and a beta of 0.62.

National Grid Dividend Announcement

The firm also recently announced a semi-annual dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Friday, November 22nd will be paid a dividend of $2.4939 per share. The ex-dividend date is Friday, November 22nd. This represents a dividend yield of 4%. National Grid’s dividend payout ratio is 41.61%.

National Grid Company 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.