Procyon Advisors LLC Trims Stake in National Grid plc (NYSE:NGG)

Procyon Advisors LLC lessened its holdings in National Grid plc (NYSE:NGG) by 4.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,470 shares of the utilities provider’s stock after selling 354 shares during the period. Procyon Advisors LLC’s holdings in National Grid were worth $503,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Fortitude Family Office LLC bought a new stake in shares of National Grid during the 3rd quarter valued at about $37,000. Eastern Bank bought a new stake in National Grid during the third quarter valued at approximately $42,000. Quantbot Technologies LP bought a new stake in National Grid during the third quarter valued at approximately $60,000. Addison Advisors LLC grew its stake in National Grid by 267.9% in the 3rd quarter. Addison Advisors LLC now owns 986 shares of the utilities provider’s stock worth $69,000 after buying an additional 718 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of National Grid by 45.4% in the 3rd quarter. GAMMA Investing LLC now owns 1,005 shares of the utilities provider’s stock worth $70,000 after buying an additional 314 shares during the last quarter. Institutional investors own 4.68% of the company’s stock.

National Grid Stock Performance

NGG stock opened at $59.57 on Friday. The company has a quick ratio of 1.54, a current ratio of 1.61 and a debt-to-equity ratio of 1.18. The firm’s fifty day moving average is $60.47 and its 200 day moving average is $63.68. National Grid plc has a 52 week low of $55.13 and a 52 week high of $73.40.

National Grid Announces Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Tuesday, January 14th. Stockholders of record on Friday, November 22nd were issued a $2.4939 dividend. The ex-dividend date was Friday, November 22nd. This represents a dividend yield of 4%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NGG. Citigroup lowered shares of National Grid from a “buy” rating to a “neutral” rating in a research report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft assumed coverage on National Grid in a research report on Wednesday, October 2nd. They set a “buy” rating on the stock. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

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.