Raleigh Capital Management Inc. Cuts Stake in National Grid plc (NYSE:NGG)

Raleigh Capital Management Inc. lowered its stake in shares of National Grid plc (NYSE:NGG) by 2.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,053 shares of the utilities provider’s stock after selling 635 shares during the period. Raleigh Capital Management Inc.’s holdings in National Grid were worth $1,548,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Fortitude Family Office LLC purchased a new position in shares of National Grid in the 3rd quarter worth $37,000. Eastern Bank bought a new stake in National Grid during the 3rd quarter valued at about $42,000. Quantbot Technologies LP purchased a new position in shares of National Grid during the third quarter worth approximately $60,000. Addison Advisors LLC increased its holdings in National Grid by 267.9% during the 3rd quarter. Addison Advisors LLC now owns 986 shares of the utilities provider’s stock worth $69,000 after purchasing an additional 718 shares during the period. Finally, GAMMA Investing LLC grew its holdings in National Grid by 45.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,005 shares of the utilities provider’s stock worth $70,000 after acquiring an additional 314 shares in the last quarter. Hedge funds and other institutional investors own 4.68% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Citigroup upgraded National Grid from a “neutral” rating to a “buy” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft started coverage on shares of National Grid in a research report on Wednesday, October 2nd. They set a “buy” rating for the company. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy”.

National Grid Price Performance

Shares of NGG stock opened at $60.05 on Thursday. 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 plc has a 12-month low of $55.13 and a 12-month high of $73.40. The business’s fifty day simple moving average is $60.31 and its 200-day simple moving average is $63.75.

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 given a dividend of $2.4939 per share. This represents a yield of 4%. The ex-dividend date was Friday, November 22nd.

About National Grid

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.