Bleakley Financial Group LLC Has $1.03 Million Position in National Grid plc (NYSE:NGG)

Bleakley Financial Group LLC grew its holdings in National Grid plc (NYSE:NGG) by 9.4% in the first quarter, HoldingsChannel reports. The institutional investor owned 15,147 shares of the utilities provider’s stock after acquiring an additional 1,302 shares during the period. Bleakley Financial Group LLC’s holdings in National Grid were worth $1,033,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Intrust Bank NA grew its stake in shares of National Grid by 1.8% in the 4th 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 during the period. International Assets Investment Management LLC acquired a new stake in National Grid in the 4th quarter valued at $11,446,000. Leo Wealth LLC bought a new stake in National Grid in the fourth quarter valued at $1,431,000. Benjamin F. Edwards & Company Inc. raised its stake in National Grid by 383.6% during the fourth 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. Finally, Stifel Financial Corp lifted its holdings in shares of National Grid by 11.6% during 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 during the period. 4.68% of the stock is owned by institutional investors.

National Grid Price Performance

Shares of NGG stock traded up $0.79 during trading hours on Wednesday, reaching $61.78. 727,941 shares of the company were exchanged, compared to its average volume of 548,764. National Grid plc has a fifty-two week low of $55.13 and a fifty-two week high of $73.40. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.91 and a quick ratio of 0.84. The stock’s fifty day moving average is $61.45 and its two-hundred day moving average is $65.03.

National Grid Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Friday, July 19th. Shareholders of record on Friday, June 7th will be issued a dividend of $2.4939 per share. This is an increase from National Grid’s previous semi-annual dividend of $1.19. The ex-dividend date of this dividend is Friday, June 7th. This represents a yield of 6%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NGG. Citigroup upgraded shares of National Grid from a “neutral” rating to a “buy” rating in a research report on Monday, June 3rd. BNP Paribas raised National Grid from an “underperform” rating to an “outperform” rating in a report on Tuesday, April 2nd. The Goldman Sachs Group upgraded National Grid from a “neutral” rating to a “buy” rating in a research report on Wednesday, June 12th. Finally, StockNews.com upgraded National Grid from a “sell” rating to a “hold” rating in a research report on Wednesday, April 3rd. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, National Grid has an average rating of “Moderate Buy”.

National Grid Company Profile

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.