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, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,336,598 shares of the utilities provider’s stock after selling 25,001 shares during the period. JPMorgan Chase & Co. owned about 0.14% of National Grid worth $93,121,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of NGG. Fortitude Family Office LLC acquired a new position in National Grid during the third quarter worth approximately $37,000. Eastern Bank bought a new stake in National Grid in the 3rd quarter valued at $42,000. Rothschild Investment LLC acquired a new stake in National Grid during the 2nd quarter valued at $37,000. Quantbot Technologies LP bought a new position in National Grid during the third quarter worth $60,000. Finally, Addison Advisors LLC lifted its stake in shares of National Grid by 267.9% during the 3rd quarter. Addison Advisors LLC now owns 986 shares of the utilities provider’s stock worth $69,000 after buying an additional 718 shares during the last quarter. 4.68% of the stock is currently owned by institutional investors and hedge funds.

National Grid Trading Up 0.2 %

Shares of National Grid stock opened at $59.54 on Friday. The firm’s 50-day moving average price is $61.95 and its two-hundred day moving average price is $63.61. The company has a market capitalization of $58.18 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 5.49 and a beta of 0.62. The company has a quick ratio of 1.54, a current ratio of 1.61 and a debt-to-equity ratio of 1.18. National Grid plc has a 12-month low of $55.13 and a 12-month high of $73.40.

National Grid Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on NGG shares. Deutsche Bank Aktiengesellschaft initiated coverage on National Grid in a report on Wednesday, October 2nd. They set a “buy” rating for the company. Citigroup downgraded National Grid from a “buy” rating to a “neutral” rating in a report on Thursday, October 3rd. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

National Grid 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.