Texas Yale Capital Corp. maintained its stake in National Grid plc (NYSE:NGG) during the first quarter, according to its most recent filing with the SEC. The fund owned 7,130 shares of the utilities provider’s stock at the end of the first quarter. Texas Yale Capital Corp.’s holdings in National Grid plc were worth $453,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in NGG. TNB Financial bought a new stake in shares of National Grid plc during the first quarter valued at about $1,198,000. Sheaff Brock Investment Advisors LLC boosted its position in National Grid plc by 11.0% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 4,026 shares of the utilities provider’s stock valued at $256,000 after buying an additional 400 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in National Grid plc during the fourth quarter valued at $21,945,000. Cribstone Capital Management LLC boosted its position in National Grid plc by 8.5% in the first quarter. Cribstone Capital Management LLC now owns 26,161 shares of the utilities provider’s stock valued at $1,664,000 after buying an additional 2,054 shares in the last quarter. Finally, BB&T Corp boosted its position in National Grid plc by 3.6% in the third quarter. BB&T Corp now owns 194,358 shares of the utilities provider’s stock valued at $13,821,000 after buying an additional 6,792 shares in the last quarter. Hedge funds and other institutional investors own 5.55% of the company’s stock.
National Grid plc (NYSE:NGG) traded up 1.29% on Friday, reaching $68.94. The company had a trading volume of 529,670 shares. The stock’s 50-day moving average is $65.14 and its 200-day moving average is $60.97. The company has a market capitalization of $51.88 billion, a P/E ratio of 19.75 and a beta of 0.43. National Grid plc has a 52 week low of $56.50 and a 52 week high of $74.97.
The business also recently announced a special dividend, which will be paid on Friday, June 2nd. Shareholders of record on Friday, May 19th will be issued a dividend of $5.4224 per share. The ex-dividend date of this dividend is Wednesday, May 17th. This represents a yield of 4.92%.
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NGG has been the topic of several research analyst reports. Royal Bank of Canada raised National Grid plc from a “sector perform” rating to an “outperform” rating in a research report on Monday, January 30th. BNP Paribas raised National Grid plc from an “underperform” rating to a “neutral” rating in a research report on Tuesday, March 21st. Zacks Investment Research raised National Grid plc from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a research report on Thursday, February 9th. Berenberg Bank cut National Grid plc from a “buy” rating to a “hold” rating in a report on Thursday, May 11th. Finally, Barclays PLC restated an “equal weight” rating and issued a $69.00 target price on shares of National Grid plc in a research note on Friday, May 12th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $67.50.
National Grid plc Company Profile
National Grid plc is an electricity and gas utility company focused on transmission and distribution activities in electricity and gas in both the United Kingdom and the United States. The Company’s segments include UK Electricity Transmission, which is engaged in high voltage electricity transmission networks in Great Britain; UK Gas Transmission, which is the gas transmission network in Great Britain and United Kingdom liquefied natural gas (LNG) storage activities; UK Gas Distribution, which includes approximately four of the eight regional networks of Great Britain’s gas distribution system, and US Regulated, which includes gas distribution networks, electricity distribution networks and high voltage electricity transmission networks in New York, and New England and electricity generation facilities in New York.
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