Two Sigma Advisers LP Grows Position in National Grid plc (NYSE:NGG)

Two Sigma Advisers LP raised its position in shares of National Grid plc (NYSE:NGG) by 1.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,500 shares of the utilities provider’s stock after buying an additional 200 shares during the quarter. Two Sigma Advisers LP’s holdings in National Grid were worth $743,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. FMR LLC grew its holdings in National Grid by 11.9% during the 4th quarter. FMR LLC now owns 4,462,898 shares of the utilities provider’s stock valued at $265,185,000 after buying an additional 473,172 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in National Grid by 5.1% during the 4th quarter. JPMorgan Chase & Co. now owns 1,405,185 shares of the utilities provider’s stock valued at $83,496,000 after buying an additional 68,587 shares in the last quarter. Raymond James Financial Inc. purchased a new position in National Grid during the 4th quarter valued at approximately $67,324,000. Merewether Investment Management LP grew its holdings in National Grid by 10.3% during the 4th quarter. Merewether Investment Management LP now owns 1,053,461 shares of the utilities provider’s stock valued at $62,597,000 after buying an additional 98,461 shares in the last quarter. Finally, LPL Financial LLC lifted its stake in shares of National Grid by 3.3% in the 4th quarter. LPL Financial LLC now owns 781,572 shares of the utilities provider’s stock valued at $46,441,000 after purchasing an additional 25,082 shares during the last quarter. Hedge funds and other institutional investors own 4.68% of the company’s stock.

National Grid Price Performance

Shares of NGG stock opened at $71.99 on Tuesday. National Grid plc has a 52-week low of $54.24 and a 52-week high of $74.82. 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 firm has a market capitalization of $70.44 billion, a P/E ratio of 13.84, a P/E/G ratio of 5.64 and a beta of 0.63. The stock has a 50 day moving average price of $70.08 and a 200 day moving average price of $64.19.

National Grid Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Monday, July 28th. Investors of record on Friday, May 30th will be paid a dividend of $2.0345 per share. This represents a dividend yield of 4.7%. The ex-dividend date of this dividend is Friday, May 30th. National Grid’s dividend payout ratio is currently 78.08%.

Analyst Ratings Changes

Several research firms have recently issued reports on NGG. Barclays reaffirmed an “overweight” rating on shares of National Grid in a research note on Friday, May 16th. Wall Street Zen lowered National Grid from a “hold” rating to a “sell” rating in a research note on Friday, May 16th. BNP Paribas raised National Grid from an “outperform” rating to a “strong-buy” rating in a research note on Thursday. Sanford C. Bernstein raised National Grid from a “market perform” rating to an “outperform” rating in a research note on Monday, March 17th. Finally, BNP Paribas Exane began coverage on National Grid in a research note on Thursday, May 29th. They issued an “outperform” rating and a $80.40 price objective for the company. One analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, National Grid has an average rating of “Moderate Buy” and an average price target of $80.40.

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.