16,100 Shares in National Grid plc (NYSE:NGG) Bought by AMG National Trust Bank

AMG National Trust Bank bought a new stake in National Grid plc (NYSE:NGG) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 16,100 shares of the utilities provider’s stock, valued at approximately $1,122,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NGG. Bessemer Group Inc. acquired a new stake in National Grid during the 1st quarter valued at $29,000. Rothschild Investment LLC acquired a new stake in shares of National Grid in the 2nd quarter worth approximately $37,000. Fortitude Family Office LLC bought a new stake in National Grid during the third quarter worth approximately $37,000. Eastern Bank acquired a new stake in National Grid in the third quarter worth approximately $42,000. Finally, Mather Group LLC. boosted its stake in National Grid by 89.9% during the 2nd quarter. Mather Group LLC. now owns 900 shares of the utilities provider’s stock valued at $51,000 after purchasing an additional 426 shares in the last quarter. 4.68% of the stock is currently owned by institutional investors and hedge funds.

National Grid Trading Up 1.1 %

Shares of NYSE NGG opened at $63.58 on Wednesday. The business has a 50 day simple moving average of $66.69 and a 200 day simple moving average of $64.32. National Grid plc has a 52 week low of $55.13 and a 52 week high of $73.40. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.61 and a quick ratio of 1.54.

National Grid Announces Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Friday, November 22nd will be paid a $2.4939 dividend. This represents a dividend yield of 4%. The ex-dividend date is Friday, November 22nd.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on NGG shares. Citigroup cut shares of National Grid from a “buy” rating to a “neutral” rating in a research report on Thursday, October 3rd. 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. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy”.

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.