Advisors Asset Management Inc. Acquires 282 Shares of National Grid plc (NYSE:NGG)

Advisors Asset Management Inc. lifted its stake in National Grid plc (NYSE:NGG) by 2.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,678 shares of the utilities provider’s stock after buying an additional 282 shares during the period. Advisors Asset Management Inc.’s holdings in National Grid were worth $1,023,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Ausbil Investment Management Ltd bought a new stake in shares of National Grid during the 3rd quarter valued at $62,421,000. Hsbc Holdings PLC raised its stake in National Grid by 11,704.2% in the second quarter. Hsbc Holdings PLC now owns 650,060 shares of the utilities provider’s stock valued at $36,917,000 after purchasing an additional 644,553 shares in the last quarter. Mediolanum International Funds Ltd bought a new stake in National Grid during the third quarter worth about $38,021,000. Marshall Wace LLP acquired a new stake in National Grid during the second quarter worth about $29,097,000. Finally, International Assets Investment Management LLC bought a new position in National Grid in the 3rd quarter valued at about $12,222,000. Institutional investors and hedge funds own 4.68% of the company’s stock.

National Grid Price Performance

NGG opened at $63.26 on Tuesday. The company’s 50 day moving average is $66.18 and its 200-day moving average is $64.14. 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 1.18, a quick ratio of 1.54 and a current ratio of 1.61.

National Grid Announces Dividend

The business also recently announced a semi-annual dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Friday, November 22nd will be paid a dividend of $2.4939 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a dividend yield of 4%.

Analysts Set New Price Targets

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

National Grid Company 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.