Zions Bancorporation N.A. Cuts Position in National Grid plc (NYSE:NGG)

Zions Bancorporation N.A. cut its stake in National Grid plc (NYSE:NGG) by 2.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 124,090 shares of the utilities provider’s stock after selling 2,963 shares during the quarter. National Grid comprises about 0.6% of Zions Bancorporation N.A.’s portfolio, making the stock its 21st biggest position. Zions Bancorporation N.A.’s holdings in National Grid were worth $8,645,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. RFP Financial Group LLC boosted its position in shares of National Grid by 119.8% in the 1st quarter. RFP Financial Group LLC now owns 367 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 200 shares in the last quarter. Profund Advisors LLC boosted its position in shares of National Grid by 3.0% in the 2nd quarter. Profund Advisors LLC now owns 7,003 shares of the utilities provider’s stock worth $398,000 after purchasing an additional 203 shares in the last quarter. Carr Financial Group Corp boosted its position in shares of National Grid by 3.9% in the 3rd quarter. Carr Financial Group Corp now owns 5,416 shares of the utilities provider’s stock worth $377,000 after purchasing an additional 205 shares in the last quarter. Concord Wealth Partners boosted its position in shares of National Grid by 11.2% in the 3rd quarter. Concord Wealth Partners now owns 2,053 shares of the utilities provider’s stock worth $143,000 after purchasing an additional 206 shares in the last quarter. Finally, Bailard Inc. boosted its position in shares of National Grid by 4.4% in the 2nd quarter. Bailard Inc. now owns 5,116 shares of the utilities provider’s stock worth $291,000 after purchasing an additional 217 shares in the last quarter. 4.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on NGG shares. Citigroup cut National Grid from a “buy” rating to a “neutral” rating in a research report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft initiated coverage on National Grid in a research report on Wednesday, October 2nd. They issued a “buy” rating for the company. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy”.

National Grid Stock Performance

Shares of NGG opened at $62.11 on Thursday. The stock has a 50-day moving average of $67.13 and a two-hundred day moving average of $64.47. National Grid plc has a one year low of $55.13 and a one year high of $73.40. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.54 and a current ratio of 1.61. The stock has a market cap of $60.69 billion, a P/E ratio of 12.75, a P/E/G ratio of 5.93 and a beta of 0.62.

National Grid Dividend Announcement

The company also recently declared a semi-annual dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Friday, November 22nd will be given a dividend of $2.4939 per share. The ex-dividend date is Friday, November 22nd. This represents a yield of 4%. National Grid’s dividend payout ratio is currently 101.64%.

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.