Hennion & Walsh Asset Management Inc. Purchases Shares of 6,910 National Grid plc (NYSE:NGG)

Hennion & Walsh Asset Management Inc. purchased a new stake in shares of National Grid plc (NYSE:NGG) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 6,910 shares of the utilities provider’s stock, valued at approximately $411,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NGG. Fortitude Family Office LLC acquired a new position in shares of National Grid during the third quarter worth $37,000. Eastern Bank acquired a new position in shares of National Grid during the third quarter worth $42,000. Quantbot Technologies LP acquired a new position in shares of National Grid during the third quarter worth $60,000. Addison Advisors LLC lifted its position in shares of National Grid by 267.9% during the third quarter. Addison Advisors LLC now owns 986 shares of the utilities provider’s stock worth $69,000 after purchasing an additional 718 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of National Grid by 45.4% during the third quarter. GAMMA Investing LLC now owns 1,005 shares of the utilities provider’s stock worth $70,000 after purchasing an additional 314 shares in the last quarter. 4.68% of the stock is owned by institutional investors and hedge funds.

National Grid Stock Up 0.7 %

NGG opened at $59.57 on Tuesday. The firm’s fifty day moving average price is $60.47 and its 200 day moving average price is $63.76. 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 plc has a 12-month low of $55.13 and a 12-month high of $73.40.

National Grid Dividend Announcement

The firm also recently announced a semi-annual dividend, which was paid on Tuesday, January 14th. Shareholders of record on Friday, November 22nd were paid a dividend of $2.4939 per share. The ex-dividend date was Friday, November 22nd. This represents a yield of 4%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on NGG shares. Deutsche Bank Aktiengesellschaft started coverage on shares of National Grid in a report on Wednesday, October 2nd. They issued a “buy” rating on the stock. Citigroup cut shares of National Grid from a “buy” rating to a “neutral” rating in a report on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus 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.