Sequoia Financial Advisors LLC Boosts Holdings in National Grid plc (NYSE:NGG)

Sequoia Financial Advisors LLC boosted its position in National Grid plc (NYSE:NGGFree Report) by 34.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,789 shares of the utilities provider’s stock after buying an additional 2,760 shares during the period. Sequoia Financial Advisors LLC’s holdings in National Grid were worth $736,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NGG. Hartline Investment Corp acquired a new stake in National Grid in the first quarter valued at $378,000. SpiderRock Advisors LLC acquired a new stake in National Grid in the first quarter valued at $937,000. Caprock Group LLC lifted its holdings in National Grid by 13.4% in the first quarter. Caprock Group LLC now owns 6,660 shares of the utilities provider’s stock valued at $454,000 after acquiring an additional 789 shares during the period. Mayflower Financial Advisors LLC lifted its holdings in National Grid by 4.5% in the first quarter. Mayflower Financial Advisors LLC now owns 3,681 shares of the utilities provider’s stock valued at $251,000 after acquiring an additional 160 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in National Grid by 7,995.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,862 shares of the utilities provider’s stock valued at $127,000 after acquiring an additional 1,839 shares during the period. 4.68% of the stock is currently owned by hedge funds and other institutional investors.

National Grid Stock Performance

NGG opened at $60.05 on Friday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.84 and a current ratio of 0.91. The business has a 50-day moving average of $62.37 and a two-hundred day moving average of $65.40. National Grid plc has a 12 month low of $55.13 and a 12 month high of $73.40.

National Grid Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Friday, July 19th. Shareholders of record on Friday, June 7th will be issued a $2.4939 dividend. This is a boost from National Grid’s previous semi-annual dividend of $1.19. The ex-dividend date is Friday, June 7th. This represents a yield of 6%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. The Goldman Sachs Group raised National Grid from a “neutral” rating to a “buy” rating in a report on Wednesday, June 12th. BNP Paribas raised National Grid from an “underperform” rating to an “outperform” rating in a research note on Tuesday, April 2nd. Citigroup raised National Grid from a “neutral” rating to a “buy” rating in a research note on Monday, June 3rd. Finally, StockNews.com raised National Grid from a “sell” rating to a “hold” rating in a research note on Wednesday, April 3rd. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Read Our Latest Research Report on National Grid

National Grid Company Profile

(Free Report)

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, New York, National Grid Ventures, and Other 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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