Hennessy Advisors Inc. Acquires 5,700 Shares of National Grid plc (NYSE:NGG)

Hennessy Advisors Inc. raised its stake in National Grid plc (NYSE:NGG) by 2.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 209,144 shares of the utilities provider’s stock after buying an additional 5,700 shares during the quarter. Hennessy Advisors Inc.’s holdings in National Grid were worth $12,427,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of NGG. FMR LLC raised its position in National Grid by 77.3% in the 3rd quarter. FMR LLC now owns 3,989,726 shares of the utilities provider’s stock valued at $277,964,000 after buying an additional 1,739,566 shares during the last quarter. Merewether Investment Management LP bought a new position in shares of National Grid during the third quarter valued at about $66,535,000. Ausbil Investment Management Ltd purchased a new position in National Grid during the third quarter worth about $62,421,000. Hsbc Holdings PLC increased its stake in National Grid by 11,704.2% in the 2nd quarter. Hsbc Holdings PLC now owns 650,060 shares of the utilities provider’s stock valued at $36,917,000 after buying an additional 644,553 shares during the last quarter. Finally, Mediolanum International Funds Ltd bought a new position in shares of National Grid during the 3rd quarter worth approximately $38,021,000. Institutional investors own 4.68% of the company’s stock.

Analyst Ratings Changes

NGG has been the subject of a number of recent analyst reports. Citigroup downgraded National Grid from a “buy” rating to a “neutral” rating in a research note on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft started coverage on shares of National Grid in a research report on Wednesday, October 2nd. They issued a “buy” rating on the stock. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy”.

National Grid Stock Up 2.7 %

NYSE:NGG opened at $59.16 on Friday. The business has a fifty day simple moving average of $60.66 and a two-hundred day simple moving average of $63.70. 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 plc has a 1 year low of $55.13 and a 1 year high of $73.40.

National Grid Dividend Announcement

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

National Grid 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.