Barclays PLC Trims Stock Position in National Grid plc (NYSE:NGG)

Barclays PLC trimmed its position in National Grid plc (NYSE:NGG) by 71.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,800 shares of the utilities provider’s stock after selling 60,000 shares during the quarter. Barclays PLC’s holdings in National Grid were worth $1,658,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Rothschild Investment LLC purchased a new position in shares of National Grid in the 2nd quarter worth approximately $37,000. Fortitude Family Office LLC acquired a new position in National Grid during the 3rd quarter valued at approximately $37,000. Eastern Bank purchased a new position in shares of National Grid in the third quarter worth $42,000. Quantbot Technologies LP acquired a new stake in shares of National Grid during the third quarter worth $60,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of National Grid in the second quarter worth about $68,000. 4.68% of the stock is currently owned by institutional investors.

National Grid Trading Up 0.7 %

NYSE NGG opened at $59.31 on Friday. The firm has a 50 day simple moving average of $62.52 and a 200-day simple moving average of $63.52. The firm has a market cap of $57.96 billion, a price-to-earnings ratio of 12.28, a PEG ratio of 5.49 and a beta of 0.62. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.54 and a current ratio of 1.61. National Grid plc has a one year low of $55.13 and a one year high of $73.40.

National Grid Announces Dividend

The business also recently declared a semi-annual dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Friday, November 22nd will be issued a dividend of $2.4939 per share. The ex-dividend date is Friday, November 22nd. This represents a yield of 4%. National Grid’s dividend payout ratio (DPR) is 41.61%.

Analysts Set New Price Targets

A number of brokerages have recently commented on NGG. Citigroup downgraded National Grid from a “buy” rating to a “neutral” rating in a research note on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft started coverage on National Grid in a research note on Wednesday, October 2nd. They set a “buy” rating on the stock. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, National Grid presently has an average rating of “Moderate Buy”.

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.