Verition Fund Management LLC Decreases Position in National Grid plc (NYSE:NGG)

Verition Fund Management LLC decreased its position in National Grid plc (NYSE:NGG) by 67.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,119 shares of the utilities provider’s stock after selling 18,943 shares during the period. Verition Fund Management LLC’s holdings in National Grid were worth $635,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of NGG. Blue Trust Inc. grew its stake in shares of National Grid by 778.5% during the 2nd quarter. Blue Trust Inc. now owns 1,063 shares of the utilities provider’s stock worth $60,000 after acquiring an additional 942 shares during the period. Gradient Investments LLC boosted its position in National Grid by 8,101.0% during the second quarter. Gradient Investments LLC now owns 8,283 shares of the utilities provider’s stock worth $470,000 after purchasing an additional 8,182 shares during the period. Hennessy Advisors Inc. increased its stake in shares of National Grid by 1.8% in the second quarter. Hennessy Advisors Inc. now owns 161,144 shares of the utilities provider’s stock worth $9,153,000 after purchasing an additional 2,800 shares in the last quarter. &PARTNERS bought a new stake in shares of National Grid in the second quarter valued at approximately $441,000. Finally, Fullcircle Wealth LLC purchased a new stake in shares of National Grid during the 2nd quarter valued at approximately $211,000. Hedge funds and other institutional investors own 4.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on NGG shares. Citigroup lowered shares of National Grid from a “buy” rating to a “neutral” rating in a research note on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft assumed coverage on National Grid in a research report on Wednesday, October 2nd. They issued a “buy” rating for the company. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, National Grid currently has a consensus rating of “Moderate Buy”.

National Grid Trading Down 1.0 %

NYSE:NGG opened at $60.96 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 stock has a fifty day moving average of $64.74 and a 200 day moving average of $63.55. National Grid plc has a 52-week low of $55.13 and a 52-week high of $73.40.

National Grid Dividend Announcement

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

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.