Ballentine Partners LLC Acquires 856 Shares of National Grid plc (NYSE:NGG)

Ballentine Partners LLC boosted its holdings in National Grid plc (NYSE:NGG) by 10.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,685 shares of the utilities provider’s stock after acquiring an additional 856 shares during the quarter. Ballentine Partners LLC’s holdings in National Grid were worth $592,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Park Avenue Securities LLC lifted its position in National Grid by 69.2% in the 1st quarter. Park Avenue Securities LLC now owns 29,036 shares of the utilities provider’s stock valued at $1,981,000 after acquiring an additional 11,876 shares in the last quarter. Lantz Financial LLC lifted its holdings in shares of National Grid by 11.2% during the 1st quarter. Lantz Financial LLC now owns 6,723 shares of the utilities provider’s stock valued at $459,000 after buying an additional 677 shares during the period. Mather Group LLC. bought a new position in shares of National Grid during the 1st quarter valued at $32,000. GAMMA Investing LLC lifted its holdings in shares of National Grid by 99.3% during the 1st quarter. GAMMA Investing LLC now owns 1,730 shares of the utilities provider’s stock valued at $118,000 after buying an additional 862 shares during the period. Finally, CWM LLC lifted its holdings in shares of National Grid by 22.5% during the 1st quarter. CWM LLC now owns 4,191 shares of the utilities provider’s stock valued at $286,000 after buying an additional 771 shares during the period. 4.68% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NGG. BNP Paribas upgraded National Grid from an “underperform” rating to an “outperform” rating in a research note on Tuesday, April 2nd. The Goldman Sachs Group upgraded National Grid from a “neutral” rating to a “buy” rating in a research note on Wednesday, June 12th. Citigroup upgraded National Grid from a “neutral” rating to a “buy” rating in a research note on Monday, June 3rd. Finally, StockNews.com upgraded National Grid from a “sell” rating to a “hold” rating in a research note on Wednesday, April 3rd. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

National Grid Price Performance

NGG stock traded up $0.11 during trading on Monday, reaching $57.24. The company’s stock had a trading volume of 64,665 shares, compared to its average volume of 485,366. The company’s fifty day moving average is $63.92 and its 200-day moving average is $66.09. National Grid plc has a 1 year low of $55.13 and a 1 year high of $73.40. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.41.

National Grid Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Friday, July 19th. Shareholders of record on Friday, June 7th will be issued a dividend of $2.4939 per share. This represents a dividend yield of 6%. The ex-dividend date is Friday, June 7th. This is an increase from National Grid’s previous semi-annual dividend of $1.19.

National Grid Profile

National Grid plc transmits and distributes electricity and gas. The company 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.