Park Place Capital Corp Reduces Position in National Grid plc (NYSE:NGG)

Park Place Capital Corp lessened its holdings in shares of National Grid plc (NYSE:NGG) by 15.0% in the 1st quarter, Holdings Channel reports. The fund owned 11,907 shares of the utilities provider’s stock after selling 2,097 shares during the quarter. Park Place Capital Corp’s holdings in National Grid were worth $812,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. UMB Bank n.a. grew its stake in National Grid by 22.7% during the 4th quarter. UMB Bank n.a. now owns 826 shares of the utilities provider’s stock valued at $56,000 after acquiring an additional 153 shares in the last quarter. NBC Securities Inc. grew its stake in National Grid by 3.5% during the 4th quarter. NBC Securities Inc. now owns 4,514 shares of the utilities provider’s stock valued at $306,000 after acquiring an additional 154 shares in the last quarter. Armstrong Advisory Group Inc. grew its stake in National Grid by 14.5% during the 4th quarter. Armstrong Advisory Group Inc. now owns 1,445 shares of the utilities provider’s stock valued at $98,000 after acquiring an additional 183 shares in the last quarter. Global Retirement Partners LLC grew its stake in National Grid by 18.6% during the 4th quarter. Global Retirement Partners LLC now owns 1,301 shares of the utilities provider’s stock valued at $89,000 after acquiring an additional 204 shares in the last quarter. Finally, Raleigh Capital Management Inc. grew its stake in National Grid by 0.7% during the 3rd quarter. Raleigh Capital Management Inc. now owns 32,085 shares of the utilities provider’s stock valued at $1,945,000 after acquiring an additional 209 shares in the last quarter. Hedge funds and other institutional investors own 4.68% of the company’s stock.

National Grid Trading Up 0.6 %

Shares of NYSE:NGG traded up $0.35 during mid-day trading on Monday, reaching $57.15. 1,031,488 shares of the company were exchanged, compared to its average volume of 517,635. 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 firm has a market cap of $45.34 billion, a price-to-earnings ratio of 11.93, a P/E/G ratio of 4.96 and a beta of 0.61. The firm’s 50-day simple moving average is $63.16 and its 200 day simple moving average is $65.71. National Grid plc has a 1 year low of $55.13 and a 1 year high of $73.40.

National Grid Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Friday, July 19th. Investors of record on Friday, June 7th will be given a dividend of $2.4939 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a dividend yield of 6%. This is a boost from National Grid’s previous semi-annual dividend of $1.19. National Grid’s dividend payout ratio (DPR) is presently 103.34%.

Analysts Set New Price Targets

Several analysts have recently weighed in on NGG shares. Citigroup raised shares of National Grid from a “neutral” rating to a “buy” rating in a research note on Monday, June 3rd. BNP Paribas raised shares of National Grid from an “underperform” rating to an “outperform” rating in a research note on Tuesday, April 2nd. StockNews.com raised shares of National Grid from a “sell” rating to a “hold” rating in a research note on Wednesday, April 3rd. Finally, 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. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, National Grid presently has a consensus rating of “Moderate Buy”.

About National Grid

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.