Benjamin Edwards Inc. Purchases New Stake in National Grid plc (NYSE:NGG)

Benjamin Edwards Inc. acquired a new position in shares of National Grid plc (NYSE:NGG) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 18,290 shares of the utilities provider’s stock, valued at approximately $1,274,000.

Several other hedge funds also recently added to or reduced their stakes in NGG. Captrust Financial Advisors lifted its position in shares of National Grid by 1.8% during the third quarter. Captrust Financial Advisors now owns 22,140 shares of the utilities provider’s stock worth $1,543,000 after purchasing an additional 385 shares during the last quarter. Walleye Capital LLC bought a new position in National Grid during the 3rd quarter worth approximately $962,000. Glenmede Trust Co. NA grew its position in shares of National Grid by 5.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 6,999 shares of the utilities provider’s stock worth $488,000 after acquiring an additional 390 shares in the last quarter. Townsquare Capital LLC bought a new stake in shares of National Grid in the 3rd quarter valued at approximately $273,000. Finally, Transamerica Financial Advisors Inc. raised its position in shares of National Grid by 202,300.0% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 2,024 shares of the utilities provider’s stock valued at $141,000 after acquiring an additional 2,023 shares in the last quarter. 4.68% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

National Grid Price Performance

NGG stock opened at $62.36 on Friday. The stock’s fifty day moving average is $65.07 and its two-hundred day moving average is $63.75. The company has a current ratio of 1.61, a quick ratio of 1.54 and a debt-to-equity ratio of 1.18. National Grid plc has a 1 year low of $55.13 and a 1 year high of $73.40.

National Grid Dividend Announcement

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

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.