Cape Investment Advisory Inc. Purchases 686 Shares of National Grid plc (NYSE:NGG)

Cape Investment Advisory Inc. increased its position in National Grid plc (NYSE:NGG) by 363.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 875 shares of the utilities provider’s stock after purchasing an additional 686 shares during the period. Cape Investment Advisory Inc.’s holdings in National Grid were worth $60,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Federated Hermes Inc. lifted its holdings in shares of National Grid by 8.1% in the 4th quarter. Federated Hermes Inc. now owns 2,945,746 shares of the utilities provider’s stock worth $200,281,000 after purchasing an additional 220,504 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of National Grid by 5.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 1,286,459 shares of the utilities provider’s stock worth $87,466,000 after purchasing an additional 70,730 shares in the last quarter. Raymond James & Associates lifted its holdings in shares of National Grid by 0.6% in the 1st quarter. Raymond James & Associates now owns 1,268,521 shares of the utilities provider’s stock worth $86,538,000 after purchasing an additional 7,865 shares in the last quarter. Capital International Investors purchased a new stake in National Grid in the 1st quarter valued at $86,218,000. Finally, Wells Fargo & Company MN raised its position in National Grid by 10.3% in the 4th quarter. Wells Fargo & Company MN now owns 1,215,723 shares of the utilities provider’s stock valued at $82,657,000 after buying an additional 113,208 shares during the last quarter. 4.68% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Citigroup raised National Grid from a “neutral” rating to a “buy” rating in a research report on Monday, June 3rd. The Goldman Sachs Group raised National Grid from a “neutral” rating to a “buy” rating in a research report on Wednesday, June 12th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy”.

National Grid Stock Performance

Shares of National Grid stock traded up $1.41 during trading hours on Friday, hitting $65.08. 1,171,428 shares of the company’s stock traded hands, compared to its average volume of 832,188. National Grid plc has a 12-month low of $55.13 and a 12-month high of $73.40. The company has a fifty day simple moving average of $59.58 and a 200-day simple moving average of $64.55. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.41.

National Grid Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Friday, July 19th. Stockholders of record on Friday, June 7th were given a dividend of $2.4939 per share. The ex-dividend date was Friday, June 7th. This is a positive change from National Grid’s previous semi-annual dividend of $1.19. This represents a dividend yield of 6%.

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.