MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Buys New Position in National Grid plc (NYSE:NGG)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in National Grid plc (NYSE:NGG) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 20,093 shares of the utilities provider’s stock, valued at approximately $1,194,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of NGG. Oppenheimer & Co. Inc. lifted its holdings in shares of National Grid by 24.2% during the 4th quarter. Oppenheimer & Co. Inc. now owns 4,455 shares of the utilities provider’s stock worth $265,000 after acquiring an additional 868 shares during the last quarter. Atria Wealth Solutions Inc. bought a new stake in National Grid during the fourth quarter worth about $239,000. Blue Trust Inc. lifted its stake in National Grid by 92.9% during the fourth quarter. Blue Trust Inc. now owns 9,774 shares of the utilities provider’s stock worth $581,000 after purchasing an additional 4,707 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of National Grid by 5.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 65,013 shares of the utilities provider’s stock worth $3,863,000 after purchasing an additional 3,186 shares in the last quarter. Finally, IFP Advisors Inc increased its position in shares of National Grid by 20.0% during the 4th quarter. IFP Advisors Inc now owns 1,043 shares of the utilities provider’s stock valued at $62,000 after purchasing an additional 174 shares during the last quarter. Hedge funds and other institutional investors own 4.68% of the company’s stock.

National Grid Trading Up 1.6%

NYSE:NGG opened at $74.78 on Monday. The firm has a market capitalization of $73.17 billion, a P/E ratio of 14.38, a P/E/G ratio of 5.64 and a beta of 0.63. The company has a quick ratio of 1.54, a current ratio of 1.61 and a debt-to-equity ratio of 1.18. The company has a fifty day moving average of $68.96 and a 200 day moving average of $63.78. National Grid plc has a 52 week low of $54.24 and a 52 week high of $74.82.

National Grid Cuts Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Monday, July 28th. Stockholders of record on Friday, May 30th will be paid a dividend of $2.0345 per share. This represents a dividend yield of 4.7%. The ex-dividend date of this dividend is Friday, May 30th. National Grid’s dividend payout ratio (DPR) is 78.08%.

Analyst Ratings Changes

Several analysts have issued reports on NGG shares. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of National Grid in a research note on Wednesday. Barclays reaffirmed an “overweight” rating on shares of National Grid in a report on Friday, May 16th. Wall Street Zen downgraded shares of National Grid from a “hold” rating to a “sell” rating in a research note on Friday, May 16th. Citigroup reaffirmed a “neutral” rating on shares of National Grid in a research note on Tuesday, May 6th. Finally, Sanford C. Bernstein upgraded National Grid from a “market perform” rating to an “outperform” rating in a report on Monday, March 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold”.

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.