Assetmark Inc. Raises Position in National Grid plc (NYSE:NGG)

Assetmark Inc. boosted its stake in National Grid plc (NYSE:NGGGet Rating) by 406.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,530 shares of the utilities provider’s stock after buying an additional 1,228 shares during the quarter. Assetmark Inc.’s holdings in National Grid were worth $79,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. ACG Wealth acquired a new stake in National Grid in the 2nd quarter valued at about $25,000. Allworth Financial LP increased its holdings in shares of National Grid by 51.0% during the 3rd quarter. Allworth Financial LP now owns 669 shares of the utilities provider’s stock worth $34,000 after buying an additional 226 shares during the last quarter. Fairfield Bush & CO. acquired a new stake in shares of National Grid during the 1st quarter worth approximately $36,000. Rosenberg Matthew Hamilton increased its holdings in shares of National Grid by 67.9% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 744 shares of the utilities provider’s stock worth $38,000 after buying an additional 301 shares during the last quarter. Finally, Curi Wealth Management LLC acquired a new stake in shares of National Grid during the 2nd quarter worth approximately $56,000. 3.49% of the stock is owned by hedge funds and other institutional investors.

National Grid Stock Performance

Shares of NGG stock opened at $64.38 on Friday. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.71 and a quick ratio of 0.66. National Grid plc has a 52 week low of $47.22 and a 52 week high of $80.20. The firm has a 50 day moving average of $61.68 and a two-hundred day moving average of $61.25.

National Grid Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Wednesday, January 11th. Shareholders of record on Friday, November 25th were given a $2.0929 dividend. This represents a yield of 7.1%. The ex-dividend date of this dividend was Wednesday, November 23rd. This is a boost from National Grid’s previous semi-annual dividend of $1.16.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NGG. Morgan Stanley upgraded shares of National Grid from an “equal weight” rating to an “overweight” rating in a report on Friday, January 6th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of National Grid from GBX 1,020 ($12.45) to GBX 1,070 ($13.06) in a report on Friday, January 13th. Credit Suisse Group dropped their target price on shares of National Grid from GBX 1,225 ($14.95) to GBX 1,150 ($14.03) in a report on Friday, October 28th. Societe Generale upgraded shares of National Grid from a “hold” rating to a “buy” rating in a report on Tuesday, November 15th. Finally, JPMorgan Chase & Co. initiated coverage on shares of National Grid in a report on Tuesday, November 8th. They issued an “overweight” rating for the company. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, National Grid currently has an average rating of “Moderate Buy” and an average price target of $1,110.00.

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.

See Also

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

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