Beach Investment Counsel Inc. PA Reduces Stock Position in National Grid plc (NYSE:NGG)

Beach Investment Counsel Inc. PA cut its holdings in shares of National Grid plc (NYSE:NGG) by 13.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 34,808 shares of the utilities provider’s stock after selling 5,190 shares during the quarter. Beach Investment Counsel Inc. PA’s holdings in National Grid were worth $2,068,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of NGG. Fortitude Family Office LLC purchased a new stake in National Grid during the 3rd quarter worth approximately $37,000. Eastern Bank acquired a new position in National Grid during the 3rd quarter valued at approximately $42,000. Quantbot Technologies LP acquired a new position in National Grid during the 3rd quarter valued at approximately $60,000. Addison Advisors LLC boosted its position in National Grid by 267.9% during the 3rd quarter. Addison Advisors LLC now owns 986 shares of the utilities provider’s stock valued at $69,000 after purchasing an additional 718 shares during the period. Finally, GAMMA Investing LLC boosted its position in National Grid by 45.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,005 shares of the utilities provider’s stock valued at $70,000 after purchasing an additional 314 shares during the period. 4.68% of the stock is currently owned by hedge funds and other institutional investors.

National Grid Price Performance

Shares of NYSE:NGG opened at $61.55 on Tuesday. The company has a 50 day moving average of $60.03 and a 200-day moving average of $63.75. National Grid plc has a twelve month low of $55.13 and a twelve month high of $73.40. The company has a quick ratio of 1.54, a current ratio of 1.61 and a debt-to-equity ratio of 1.18.

National Grid Dividend Announcement

The firm also recently announced a semi-annual dividend, which was paid on Tuesday, January 14th. Investors 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%.

Analyst Ratings Changes

Separately, Citigroup upgraded National Grid from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 21st. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

National Grid 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.