Burney Co. Makes New Investment in National Grid plc (NYSE:NGG)

Burney Co. purchased a new stake in shares of National Grid plc (NYSE:NGG) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 10,164 shares of the utilities provider’s stock, valued at approximately $604,000.

A number of other large investors have also recently modified their holdings of NGG. Rhumbline Advisers raised its position in National Grid by 8.9% during the 2nd quarter. Rhumbline Advisers now owns 16,834 shares of the utilities provider’s stock valued at $956,000 after purchasing an additional 1,381 shares in the last quarter. Moors & Cabot Inc. lifted its stake in National Grid by 4.8% in the second quarter. Moors & Cabot Inc. now owns 5,425 shares of the utilities provider’s stock worth $308,000 after acquiring an additional 247 shares during the period. Hsbc Holdings PLC grew its holdings in National Grid by 11,704.2% during the 2nd quarter. Hsbc Holdings PLC now owns 650,060 shares of the utilities provider’s stock worth $36,917,000 after acquiring an additional 644,553 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its position in National Grid by 11.6% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 18,202 shares of the utilities provider’s stock valued at $1,034,000 after purchasing an additional 1,889 shares during the period. Finally, Pacer Advisors Inc. raised its holdings in shares of National Grid by 28.6% in the 2nd quarter. Pacer Advisors Inc. now owns 8,284 shares of the utilities provider’s stock valued at $471,000 after purchasing an additional 1,840 shares in the last quarter. Hedge funds and other institutional investors own 4.68% of the company’s stock.

National Grid Stock Performance

Shares of National Grid stock opened at $59.57 on Friday. National Grid plc has a 52-week low of $55.13 and a 52-week high of $73.40. The firm’s 50 day moving average price is $60.55 and its 200-day moving average price is $63.67. The company has a quick ratio of 1.54, a current ratio of 1.61 and a debt-to-equity ratio of 1.18.

National Grid Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NGG. Deutsche Bank Aktiengesellschaft began coverage on shares of National Grid in a report on Wednesday, October 2nd. They set a “buy” rating on the stock. Citigroup lowered National Grid from a “buy” rating to a “neutral” rating in a research report on Thursday, October 3rd. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

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.