5,935 Shares in National Grid plc (NYSE:NGG) Purchased by Groesbeck Investment Management Corp NJ

Groesbeck Investment Management Corp NJ purchased a new position in shares of National Grid plc (NYSE:NGG) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 5,935 shares of the utilities provider’s stock, valued at approximately $353,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NGG. Fortitude Family Office LLC acquired a new stake in National Grid in the third quarter valued at about $37,000. Eastern Bank acquired a new stake in National Grid in the third quarter valued at about $42,000. Quantbot Technologies LP acquired a new stake in National Grid in the third quarter valued at about $60,000. Addison Advisors LLC lifted its position in National Grid by 267.9% in the third quarter. Addison Advisors LLC now owns 986 shares of the utilities provider’s stock valued at $69,000 after purchasing an additional 718 shares during the period. Finally, GAMMA Investing LLC lifted its position in National Grid by 45.4% in the third quarter. GAMMA Investing LLC now owns 1,005 shares of the utilities provider’s stock valued at $70,000 after purchasing an additional 314 shares during the period. Hedge funds and other institutional investors own 4.68% of the company’s stock.

National Grid Stock Down 0.3 %

Shares of NGG opened at $61.83 on Wednesday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.61 and a quick ratio of 1.54. The firm has a 50 day simple moving average of $60.01 and a 200-day simple moving average of $63.76. National Grid plc has a 1-year low of $55.13 and a 1-year high of $73.40.

National Grid Announces Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Tuesday, January 14th. Stockholders of record on Friday, November 22nd were paid a dividend of $2.4939 per share. The ex-dividend date of this dividend was Friday, November 22nd. This represents a dividend yield of 4%.

Analyst Upgrades and Downgrades

Separately, Citigroup upgraded shares of National Grid from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 21st. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

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.