21,042 Shares in National Grid plc (NYSE:NGG) Purchased by Leo Wealth LLC

Leo Wealth LLC acquired a new stake in shares of National Grid plc (NYSE:NGG) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 21,042 shares of the utilities provider’s stock, valued at approximately $1,431,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Intrust Bank NA boosted its position in National Grid by 1.8% during the fourth quarter. Intrust Bank NA now owns 16,654 shares of the utilities provider’s stock valued at $1,132,000 after purchasing an additional 288 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of National Grid in the 4th quarter worth approximately $11,446,000. Benjamin F. Edwards & Company Inc. raised its stake in shares of National Grid by 383.6% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 14,446 shares of the utilities provider’s stock worth $982,000 after acquiring an additional 11,459 shares in the last quarter. Stifel Financial Corp boosted its stake in National Grid by 11.6% in the fourth quarter. Stifel Financial Corp now owns 247,902 shares of the utilities provider’s stock valued at $16,855,000 after acquiring an additional 25,673 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of National Grid by 3.9% during the third quarter. Wellington Management Group LLP now owns 53,984 shares of the utilities provider’s stock worth $3,273,000 after purchasing an additional 2,049 shares in the last quarter. 4.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NGG has been the topic of several research analyst reports. The Goldman Sachs Group upgraded National Grid from a “neutral” rating to a “buy” rating in a research note on Wednesday, June 12th. BNP Paribas upgraded shares of National Grid from an “underperform” rating to an “outperform” rating in a research note on Tuesday, April 2nd. Citigroup upgraded shares of National Grid from a “neutral” rating to a “buy” rating in a research note on Monday, June 3rd. Finally, StockNews.com raised National Grid from a “sell” rating to a “hold” rating in a research report on Wednesday, April 3rd. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, National Grid presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,050.00.

National Grid Stock Performance

Shares of NYSE:NGG traded down $0.75 during midday trading on Monday, reaching $55.80. The company’s stock had a trading volume of 832,813 shares, compared to its average volume of 465,792. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.41. The stock has a fifty day moving average of $64.80 and a 200 day moving average of $66.43. National Grid plc has a twelve month low of $55.13 and a twelve month high of $73.40.

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 dividend of $2.4939 per share. This is an increase from National Grid’s previous semi-annual dividend of $1.19. This represents a yield of 6%. The ex-dividend date 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.