Johnson Investment Counsel Inc. Buys 600 Shares of National Grid plc (NYSE:NGG)

Johnson Investment Counsel Inc. raised its stake in shares of National Grid plc (NYSE:NGG) by 7.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,914 shares of the utilities provider’s stock after purchasing an additional 600 shares during the period. Johnson Investment Counsel Inc.’s holdings in National Grid were worth $600,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its stake in National Grid by 35.7% during the second quarter. Russell Investments Group Ltd. now owns 124,896 shares of the utilities provider’s stock valued at $8,409,000 after buying an additional 32,859 shares during the last quarter. Checchi Capital Advisers LLC boosted its position in shares of National Grid by 9.3% during the 2nd quarter. Checchi Capital Advisers LLC now owns 3,746 shares of the utilities provider’s stock valued at $252,000 after acquiring an additional 319 shares during the last quarter. Cetera Advisor Networks LLC grew its holdings in shares of National Grid by 26.3% in the second quarter. Cetera Advisor Networks LLC now owns 25,016 shares of the utilities provider’s stock valued at $1,684,000 after purchasing an additional 5,216 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in National Grid by 84.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 11,228 shares of the utilities provider’s stock worth $756,000 after purchasing an additional 5,148 shares during the last quarter. Finally, Citigroup Inc. raised its stake in National Grid by 13.4% during the second quarter. Citigroup Inc. now owns 5,906 shares of the utilities provider’s stock valued at $398,000 after purchasing an additional 698 shares in the last quarter. Hedge funds and other institutional investors own 4.40% of the company’s stock.

National Grid Price Performance

NGG stock opened at $65.19 on Tuesday. The stock has a market cap of $48.08 billion, a PE ratio of 14.49, a P/E/G ratio of 4.79 and a beta of 0.69. National Grid plc has a 12 month low of $56.40 and a 12 month high of $74.48. The company has a 50-day moving average price of $61.16 and a 200 day moving average price of $64.59. The company has a current ratio of 0.93, a quick ratio of 0.82 and a debt-to-equity ratio of 1.43.

National Grid Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Thursday, January 11th. Stockholders of record on Friday, November 24th will be paid a dividend of $1.1899 per share. The ex-dividend date is Wednesday, November 22nd. This represents a dividend yield of 5.8%. National Grid’s dividend payout ratio is 103.33%.

Wall Street Analyst Weigh In

NGG has been the subject of a number of recent research reports. Barclays started coverage on shares of National Grid in a research note on Thursday, September 28th. They issued an “overweight” rating for the company. StockNews.com assumed coverage on National Grid in a research report on Thursday, October 5th. They issued a “hold” rating for the company. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, National Grid has a consensus rating of “Moderate Buy” and a consensus target price of $1,176.25.

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, New York, National Grid Ventures, and Other segments. The UK Electricity Transmission segment provides electricity transmission and construction work services in England and Wales.