Highland Capital Management LLC Sells 408 Shares of National Grid plc (NYSE:NGG)

Highland Capital Management LLC reduced its position in National Grid plc (NYSE:NGG) by 2.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 14,718 shares of the utilities provider’s stock after selling 408 shares during the quarter. Highland Capital Management LLC’s holdings in National Grid were worth $875,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Barry Investment Advisors LLC lifted its stake in shares of National Grid by 21.2% in the fourth quarter. Barry Investment Advisors LLC now owns 9,074 shares of the utilities provider’s stock valued at $548,000 after buying an additional 1,587 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of National Grid by 4.1% in the 4th quarter. Pacer Advisors Inc. now owns 8,620 shares of the utilities provider’s stock worth $512,000 after acquiring an additional 340 shares during the last quarter. Blue Trust Inc. lifted its position in National Grid by 92.9% in the 4th quarter. Blue Trust Inc. now owns 9,774 shares of the utilities provider’s stock valued at $581,000 after acquiring an additional 4,707 shares in the last quarter. Kingswood Wealth Advisors LLC acquired a new position in National Grid during the 4th quarter valued at about $287,000. Finally, SG Americas Securities LLC bought a new stake in National Grid during the 4th quarter worth approximately $166,000. Institutional investors and hedge funds own 4.68% of the company’s stock.

Analyst Ratings Changes

Separately, Citigroup raised National Grid from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 21st. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

National Grid Stock Up 1.5 %

National Grid stock opened at $61.70 on Friday. 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 plc has a fifty-two week low of $55.13 and a fifty-two week high of $73.40. The firm’s 50-day simple moving average is $60.10 and its 200 day simple moving average is $63.73.

National Grid Dividend Announcement

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

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.