Optas LLC Has $420,000 Stake in National Grid plc (NYSE:NGG)

Optas LLC lifted its position in National Grid plc (NYSE:NGG) by 5.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,163 shares of the utilities provider’s stock after buying an additional 308 shares during the quarter. Optas LLC’s holdings in National Grid were worth $420,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Citigroup Inc. increased its stake in shares of National Grid by 84.7% during the 3rd quarter. Citigroup Inc. now owns 10,907 shares of the utilities provider’s stock worth $661,000 after purchasing an additional 5,001 shares during the last quarter. Mariner LLC raised its holdings in National Grid by 6.0% during the third quarter. Mariner LLC now owns 28,495 shares of the utilities provider’s stock valued at $1,728,000 after buying an additional 1,612 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its position in shares of National Grid by 24.4% in the third quarter. O Shaughnessy Asset Management LLC now owns 10,613 shares of the utilities provider’s stock worth $643,000 after buying an additional 2,082 shares during the last quarter. Logan Capital Management Inc. boosted its stake in shares of National Grid by 5.7% during the 3rd quarter. Logan Capital Management Inc. now owns 44,417 shares of the utilities provider’s stock worth $2,693,000 after acquiring an additional 2,407 shares in the last quarter. Finally, Gallagher Fiduciary Advisors LLC increased its holdings in shares of National Grid by 4.6% during the 3rd quarter. Gallagher Fiduciary Advisors LLC now owns 10,848 shares of the utilities provider’s stock valued at $658,000 after acquiring an additional 481 shares during the last quarter. Institutional investors and hedge funds own 4.68% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on NGG shares. Citigroup upgraded National Grid from a “neutral” rating to a “buy” rating in a report on Monday, June 3rd. BNP Paribas raised shares of National Grid from an “underperform” rating to an “outperform” rating in a report on Tuesday, April 2nd. StockNews.com upgraded shares of National Grid from a “sell” rating to a “hold” rating in a report on Wednesday, April 3rd. Finally, The Goldman Sachs Group upgraded shares of National Grid from a “neutral” rating to a “buy” rating in a report on Wednesday, June 12th. One research analyst has rated the stock with a hold rating and seven 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 Price Performance

Shares of National Grid stock traded up $0.09 during midday trading on Friday, hitting $56.80. The company had a trading volume of 1,050,428 shares, compared to its average volume of 976,815. National Grid plc has a 1-year low of $55.13 and a 1-year high of $73.40. The business’s 50 day simple moving average is $63.16 and its two-hundred day simple moving average is $65.71. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.41.

National Grid Increases Dividend

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

About National Grid

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.