National Grid plc (NYSE:NGG) Shares Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lifted its holdings in shares of National Grid plc (NYSE:NGGGet Rating) by 9.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,204 shares of the utilities provider’s stock after purchasing an additional 268 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in National Grid were worth $207,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in NGG. Dearborn Partners LLC boosted its stake in National Grid by 3.7% in the 1st quarter. Dearborn Partners LLC now owns 4,040 shares of the utilities provider’s stock worth $310,000 after buying an additional 143 shares during the last quarter. JFS Wealth Advisors LLC boosted its position in shares of National Grid by 65.4% in the first quarter. JFS Wealth Advisors LLC now owns 425 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 168 shares during the last quarter. FDx Advisors Inc. grew its holdings in National Grid by 1.6% in the first quarter. FDx Advisors Inc. now owns 10,831 shares of the utilities provider’s stock valued at $833,000 after purchasing an additional 172 shares during the period. Wealth Alliance increased its position in National Grid by 1.2% during the first quarter. Wealth Alliance now owns 15,425 shares of the utilities provider’s stock worth $1,186,000 after purchasing an additional 184 shares during the last quarter. Finally, Hexagon Capital Partners LLC raised its stake in National Grid by 10.3% during the second quarter. Hexagon Capital Partners LLC now owns 2,239 shares of the utilities provider’s stock worth $145,000 after purchasing an additional 209 shares during the period. Hedge funds and other institutional investors own 3.68% of the company’s stock.

National Grid Stock Performance

NGG opened at $59.34 on Friday. The firm’s 50 day moving average is $54.99 and its 200-day moving average is $64.06. National Grid plc has a 52-week low of $47.22 and a 52-week high of $80.20. The company has a current ratio of 0.71, a quick ratio of 0.66 and a debt-to-equity ratio of 1.52.

National Grid Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Wednesday, January 11th. Shareholders of record on Friday, November 25th will be issued a $2.0929 dividend. The ex-dividend date of this dividend is Wednesday, November 23rd. This represents a yield of 7.1%. This is a positive change from National Grid’s previous semi-annual dividend of $1.16.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. started coverage on shares of National Grid in a research note on Tuesday, November 8th. They set an “overweight” rating for the company. Credit Suisse Group cut their price objective on National Grid from GBX 1,225 ($14.39) to GBX 1,150 ($13.51) in a report on Friday, October 28th. Societe Generale upgraded National Grid from a “hold” rating to a “buy” rating in a report on Tuesday. Citigroup upgraded shares of National Grid from a “sell” rating to a “neutral” rating in a report on Tuesday, October 4th. Finally, StockNews.com upgraded shares of National Grid from a “hold” rating to a “buy” rating in a research note on Wednesday. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $1,120.00.

About National Grid

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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, and New York segments. The UK Electricity Transmission segment provides electricity transmission and construction work services in England and Wales.

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Institutional Ownership by Quarter for National Grid (NYSE:NGG)

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