State Street Corp Sells 509 Shares of National Grid plc (NYSE:NGG)

State Street Corp cut its holdings in National Grid plc (NYSE:NGG) by 4.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,013 shares of the utilities provider’s stock after selling 509 shares during the period. State Street Corp’s holdings in National Grid were worth $767,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Pathstone Holdings LLC raised its holdings in National Grid by 46.0% during the 3rd quarter. Pathstone Holdings LLC now owns 36,202 shares of the utilities provider’s stock valued at $2,522,000 after buying an additional 11,402 shares during the period. Natixis Advisors LLC raised its stake in shares of National Grid by 51.9% in the third quarter. Natixis Advisors LLC now owns 111,526 shares of the utilities provider’s stock valued at $7,770,000 after acquiring an additional 38,123 shares during the period. Icon Wealth Advisors LLC boosted its stake in shares of National Grid by 1,620.2% during the 3rd quarter. Icon Wealth Advisors LLC now owns 38,480 shares of the utilities provider’s stock worth $2,681,000 after purchasing an additional 36,243 shares during the period. Walleye Capital LLC purchased a new position in shares of National Grid during the 3rd quarter worth about $962,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in shares of National Grid during the 3rd quarter worth about $566,000. 4.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on NGG. Deutsche Bank Aktiengesellschaft began coverage on shares of National Grid in a research note on Wednesday, October 2nd. They issued a “buy” rating for the company. Citigroup lowered National Grid from a “buy” rating to a “neutral” rating in a research note on Thursday, October 3rd. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

National Grid Trading Up 0.2 %

Shares of NGG opened at $59.54 on Friday. The firm 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 debt-to-equity ratio of 1.18, a current ratio of 1.61 and a quick ratio of 1.54. National Grid plc has a 1-year low of $55.13 and a 1-year high of $73.40. The company has a 50-day moving average of $61.95 and a 200 day moving average of $63.61.

National Grid Dividend Announcement

The business also recently declared 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. This represents a dividend yield of 4%. The ex-dividend date is Friday, November 22nd. National Grid’s dividend payout ratio is presently 41.61%.

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.