Fulton Bank N.A. Trims Position in National Grid plc (NYSE:NGG)

Fulton Bank N.A. reduced its holdings in National Grid plc (NYSE:NGG) by 2.1% during the 4th quarter, Holdings Channel reports. The fund owned 36,335 shares of the utilities provider’s stock after selling 775 shares during the period. Fulton Bank N.A.’s holdings in National Grid were worth $2,159,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NGG. FMR LLC boosted its holdings in National Grid by 77.3% in the third quarter. FMR LLC now owns 3,989,726 shares of the utilities provider’s stock valued at $277,964,000 after purchasing an additional 1,739,566 shares during the last quarter. Merewether Investment Management LP purchased a new stake in shares of National Grid in the third quarter worth about $66,535,000. Ausbil Investment Management Ltd acquired a new stake in National Grid during the third quarter worth about $62,421,000. Hsbc Holdings PLC raised its position 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 valued at $36,917,000 after acquiring an additional 644,553 shares in the last quarter. Finally, Bank of Montreal Can lifted its holdings in National Grid by 3.1% in the third quarter. Bank of Montreal Can now owns 553,394 shares of the utilities provider’s stock valued at $38,588,000 after acquiring an additional 16,610 shares during the period. Institutional investors and hedge funds own 4.68% of the company’s stock.

National Grid Stock Down 1.1 %

Shares of NGG opened at $57.98 on Thursday. The firm has a market cap of $56.66 billion, a P/E ratio of 12.00, a PEG ratio of 5.49 and a beta of 0.62. National Grid plc has a 12 month low of $55.13 and a 12 month high of $73.40. The stock’s 50 day moving average is $61.41 and its two-hundred day moving average is $63.71. The company has a current ratio of 1.61, a quick ratio of 1.54 and a debt-to-equity ratio of 1.18.

National Grid Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Citigroup cut shares of National Grid from a “buy” rating to a “neutral” rating in a research note on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft started coverage on shares of National Grid in a research report on Wednesday, October 2nd. They set a “buy” rating on the stock. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

About National Grid

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.