Valeo Financial Advisors LLC joins National Grid plc (NYSE:NGG)

Financial Advisors


Valeo Financial Advisors LLC purchased new shares of National Grid’s stock during the first quarter, according to the company’s latest filings with the Securities and Exchange Commission (SEC) (NYSE: NGG – Free report). The fund purchased 3,771 shares of utility company stock valued at approximately $256,000.

Many other institutional investors and hedge funds have also changed their stakes in the business. Bank of America Corp. DE increased his National Grid stake holding by 8.4% in the fourth quarter. Bank of America Corp. DE purchased an additional 239,938 shares last quarter and now owns 3,099,978 shares of the utility company, valued at $186,991,000. Goldman Sachs Group Inc. increased its stake in National Grid by 17.7% in the first quarter. Goldman Sachs Group Inc. purchased an additional 242,081 shares last quarter and now owns 1,613,446 shares in the utility company worth $124.025 million. JPMorgan Chase increased its stake in National Grid by 11.2% in the fourth quarter. JPMorgan Chase & Co. purchased an additional 131,545 shares last quarter and now owns 1,311,055 shares of the utility company, valued at $79,083,000. Raymond James & Associates increased its holding in National Grid by 4.8% in the first quarter. Raymond James & Associates, which purchased an additional 52,404 shares in the previous quarter, now owns 1,145,887 shares of the utility company, valued at $77.909 million. Finally, Wells Fargo & Co. Minnesota increased its holding in National Grid by 2.3% during the fourth quarter. Wells Fargo & Co. Minnesota now owns 992,830 shares of the utility company, valued at $59,887,000, after purchasing an additional 22,081 shares last quarter. Hedge funds and other institutional investors hold 4.24% of the company’s shares.

Analyst Rating Change

NGG has been the subject of many recent research reports. Deutsche Bank Aktiengesellschaft cut its National Grid price target from £1,080 ($13.73) to £1,050 ($13.35) in a research note on Friday 23 June. StockNews.com began covering the National Grid on Thursday, May 18th in a research note. They issued a “hold” rating on the stock. JPMorgan Chase raised its National Grid price target to £1,275 ($16.21) from £1,150 ($14.62) in a research note on Monday, April 17. Finally, Credit Suisse Group raised its National Grid target price from £1,250 ($15.89) to £1,280 ($16.27) in a research note on Wednesday 24 May. Two equity research analysts rate the stock as a “hold” and four as a “buy.” According to MarketBeat.com, the company’s current average rating is “moderate buy” and his consensus price target is $1,176.25.

National Grid Trading rose 1.7%

NYSE:NGG shares opened Friday at $67.33. National Grid shares are at a 52-week low of $47.22 and a 52-week high of $74.48. His 50-day moving average for this company is $69.34 and his 200-day moving average is $66.03. The company has a quick ratio of 0.91, a current ratio of 1.00 and a debt to equity ratio of 1.35.

National Grid Increases Dividend

The company also recently announced a semi-annual dividend payable on Wednesday, August 9. Shareholders of record on Friday, June 2nd will be given a dividend of $2.3458. The ex-dividend date is Thursday, June 1. This equates to a dividend yield of 4.5%. That’s a boost from National Grid’s previous semi-annual dividend of $2.09.

National Grid Company Profile

(free report)

National Grid plc transmits and distributes electricity and gas. The company operates through its UK Transmission, UK Distribution, UK Power System Operators, New England, New York, National Grid Ventures and Other segments. UK Transmission Business provides transmission and construction services in England and Wales.

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National Grid Quarterly Institutional Ownership (NYSE:NGG)

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