Oppenheimer Asset Management Inc. Takes Position in National Grid plc (NYSE:NGG)

Oppenheimer Asset Management Inc. purchased a new position in National Grid plc (NYSE:NGG) in the third quarter, Holdings Channel reports. The fund purchased 8,124 shares of the utilities provider’s stock, valued at approximately $566,000.

A number of other hedge funds also recently bought and sold shares of the business. Sei Investments Co. increased its stake in shares of National Grid by 15.8% during the first quarter. Sei Investments Co. now owns 25,217 shares of the utilities provider’s stock worth $1,720,000 after purchasing an additional 3,434 shares in the last quarter. O Shaughnessy Asset Management LLC increased its stake in National Grid by 54.6% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 17,185 shares of the utilities provider’s stock worth $1,172,000 after buying an additional 6,070 shares in the last quarter. Clearbridge Investments LLC raised its holdings in shares of National Grid by 1.6% during the first quarter. Clearbridge Investments LLC now owns 98,826 shares of the utilities provider’s stock valued at $6,742,000 after acquiring an additional 1,538 shares during the last quarter. Bessemer Group Inc. purchased a new position in shares of National Grid in the first quarter valued at approximately $29,000. Finally, Lake Street Advisors Group LLC acquired a new stake in shares of National Grid in the first quarter worth approximately $210,000. Hedge funds and other institutional investors own 4.68% of the company’s stock.

National Grid Price Performance

Shares of NYSE:NGG opened at $63.58 on Wednesday. National Grid plc has a 52-week low of $55.13 and a 52-week high of $73.40. The business has a fifty day moving average of $66.69 and a two-hundred day moving average of $64.32. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.54 and a current ratio of 1.61.

National Grid Announces Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Tuesday, January 14th. Investors of record on Friday, November 22nd will be issued a $2.4939 dividend. This represents a dividend yield of 4%. The ex-dividend date is Friday, November 22nd.

Analyst Ratings Changes

A number of research analysts have weighed in on NGG shares. Citigroup lowered National Grid from a “buy” rating to a “neutral” rating in a report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft started coverage on shares of National Grid in a research report on Wednesday, October 2nd. They set a “buy” rating on the stock. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

National Grid Company Profile

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.