Cwm LLC cut its position in shares of National Grid plc (NYSE:NGG – Get Rating) by 33.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,650 shares of the utilities provider’s stock after selling 830 shares during the quarter. Cwm LLC’s holdings in National Grid were worth $85,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in NGG. ACG Wealth bought a new stake in National Grid in the second quarter valued at $25,000. Allworth Financial LP lifted its stake in National Grid by 51.0% in the third quarter. Allworth Financial LP now owns 669 shares of the utilities provider’s stock valued at $34,000 after buying an additional 226 shares during the last quarter. Fairfield Bush & CO. bought a new stake in National Grid in the first quarter valued at $36,000. Rosenberg Matthew Hamilton lifted its stake in National Grid by 67.9% in the third quarter. Rosenberg Matthew Hamilton now owns 744 shares of the utilities provider’s stock valued at $38,000 after buying an additional 301 shares during the last quarter. Finally, Curi Wealth Management LLC bought a new stake in National Grid in the second quarter valued at $56,000. 3.49% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
NGG has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft raised their target price on National Grid from GBX 1,020 ($12.45) to GBX 1,070 ($13.06) in a research note on Friday, January 13th. Credit Suisse Group cut their price objective on shares of National Grid from GBX 1,225 ($14.95) to GBX 1,150 ($14.03) in a research note on Friday, October 28th. JPMorgan Chase & Co. initiated coverage on shares of National Grid in a research note on Tuesday, November 8th. They set an “overweight” rating on the stock. Morgan Stanley upgraded shares of National Grid from an “equal weight” rating to an “overweight” rating in a research note on Friday, January 6th. Finally, Societe Generale upgraded shares of National Grid from a “hold” rating to a “buy” rating in a research note on Tuesday, November 15th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,110.00.
National Grid Price Performance
National Grid Increases Dividend
The company also recently announced a semi-annual dividend, which was paid on Wednesday, January 11th. Investors of record on Friday, November 25th were issued a dividend of $2.0929 per share. This is a positive change from National Grid’s previous semi-annual dividend of $1.16. This represents a yield of 7.1%. The ex-dividend date was Wednesday, November 23rd.
National Grid Profile
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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