Fulton Bank N.A. Decreases Stock Holdings in National Grid plc (NYSE:NGG)

Fulton Bank N.A. lowered its stake in shares of National Grid plc (NYSE:NGG) by 0.9% during the second quarter, Holdings Channel reports. The institutional investor owned 34,952 shares of the utilities provider’s stock after selling 325 shares during the period. Fulton Bank N.A.’s holdings in National Grid were worth $1,985,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. RFP Financial Group LLC lifted its holdings in shares of National Grid by 119.8% in the first quarter. RFP Financial Group LLC now owns 367 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 200 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of National Grid in the first quarter valued at about $27,000. Richardson Financial Services Inc. purchased a new stake in shares of National Grid in the first quarter valued at about $28,000. Creekmur Asset Management LLC purchased a new stake in shares of National Grid in the fourth quarter valued at about $29,000. Finally, Bessemer Group Inc. purchased a new stake in shares of National Grid in the first quarter valued at about $29,000. Hedge funds and other institutional investors own 4.68% of the company’s stock.

National Grid Trading Up 1.0 %

Shares of NGG traded up $0.65 on Tuesday, hitting $62.76. 708,727 shares of the stock traded hands, compared to its average volume of 572,913. National Grid plc has a 1 year low of $55.13 and a 1 year high of $73.40. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.84 and a current ratio of 0.91. The stock’s 50 day moving average is $59.61 and its two-hundred day moving average is $64.51.

National Grid Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Friday, July 19th. Investors of record on Friday, June 7th were given a dividend of $2.4939 per share. This is a positive change from National Grid’s previous semi-annual dividend of $1.19. The ex-dividend date was Friday, June 7th. This represents a yield of 6%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on NGG shares. The Goldman Sachs Group raised shares of National Grid from a “neutral” rating to a “buy” rating in a research note on Wednesday, June 12th. Citigroup raised shares of National Grid from a “neutral” rating to a “buy” rating in a research note on Monday, June 3rd. One research analyst has rated the stock with a hold rating and seven have given 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. 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.