Wilmington Savings Fund Society FSB Invests $312,000 in National Grid plc (NYSE:NGG)

Wilmington Savings Fund Society FSB bought a new position in National Grid plc (NYSE:NGG) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,484 shares of the utilities provider’s stock, valued at approximately $312,000.

A number of other institutional investors have also recently modified their holdings of the stock. FMR LLC grew its stake in shares of National Grid by 77.3% in the third quarter. FMR LLC now owns 3,989,726 shares of the utilities provider’s stock worth $277,964,000 after acquiring an additional 1,739,566 shares during the last quarter. Merewether Investment Management LP purchased a new stake in shares of National Grid during the third quarter valued at $66,535,000. Ausbil Investment Management Ltd purchased a new stake in shares of National Grid during the third quarter valued at $62,421,000. Hsbc Holdings PLC boosted its position in shares of National Grid by 11,704.2% during the second 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, Bank of Montreal Can boosted its position in shares of National Grid by 3.1% during the third quarter. Bank of Montreal Can now owns 553,394 shares of the utilities provider’s stock valued at $38,588,000 after buying an additional 16,610 shares during the last quarter. 4.68% of the stock is owned by hedge funds and other institutional investors.

National Grid Trading Up 1.0 %

Shares of NYSE:NGG opened at $59.40 on Wednesday. The stock has a market capitalization of $58.04 billion, a price-to-earnings ratio of 12.25, a PEG ratio of 5.53 and a beta of 0.62. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.54 and a current ratio of 1.61. The stock’s 50-day simple moving average is $63.84 and its two-hundred day simple moving average is $63.56. National Grid plc has a 52-week low of $55.13 and a 52-week high of $73.40.

National Grid Announces Dividend

The business 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 of this dividend is Friday, November 22nd. National Grid’s dividend payout ratio (DPR) is currently 41.44%.

Analyst Upgrades and Downgrades

NGG has been the topic of several recent analyst reports. Citigroup cut National Grid from a “buy” rating to a “neutral” rating in a research report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft initiated coverage on National Grid in a research report on Wednesday, October 2nd. They set a “buy” rating on the stock. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently 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.