Fmr LLC Purchases 1,739,566 Shares of National Grid plc (NYSE:NGG)

Fmr LLC raised its position in shares of National Grid plc (NYSE:NGG) by 77.3% in the 3rd quarter, Holdings Channel reports. The firm owned 3,989,726 shares of the utilities provider’s stock after acquiring an additional 1,739,566 shares during the period. Fmr LLC’s holdings in National Grid were worth $277,964,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ausbil Investment Management Ltd acquired a new position in shares of National Grid during the 3rd quarter worth $62,421,000. Hsbc Holdings PLC raised its stake in National Grid by 11,704.2% during the second quarter. Hsbc Holdings PLC now owns 650,060 shares of the utilities provider’s stock worth $36,917,000 after acquiring an additional 644,553 shares in the last quarter. Mediolanum International Funds Ltd acquired a new position in National Grid during the third quarter worth about $38,021,000. Marshall Wace LLP bought a new position in shares of National Grid in the second quarter worth about $29,097,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of National Grid in the 3rd quarter valued at approximately $12,222,000. 4.68% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

National Grid Trading Up 0.6 %

National Grid stock opened at $63.68 on Monday. The business has a 50 day moving average of $65.67 and a 200-day moving average of $63.91. National Grid plc has a 1 year low of $55.13 and a 1 year high of $73.40. 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 Announces Dividend

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

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.