Oppenheimer Asset Management Inc. Buys Shares of 8,124 National Grid plc (NYSE:NGG)

Oppenheimer Asset Management Inc. purchased a new position in shares of National Grid plc (NYSE:NGG) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 8,124 shares of the utilities provider’s stock, valued at approximately $566,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bessemer Group Inc. acquired a new position in National Grid during the 1st quarter valued at about $29,000. Rothschild Investment LLC purchased a new position in shares of National Grid in the 2nd quarter valued at approximately $37,000. Fortitude Family Office LLC purchased a new position in shares of National Grid in the 3rd quarter valued at approximately $37,000. Eastern Bank acquired a new stake in National Grid in the 3rd quarter worth approximately $42,000. Finally, Mather Group LLC. grew its position in National Grid by 89.9% during the 2nd quarter. Mather Group LLC. now owns 900 shares of the utilities provider’s stock worth $51,000 after purchasing an additional 426 shares during the last quarter. Hedge funds and other institutional investors own 4.68% of the company’s stock.

Analyst Ratings Changes

NGG has been the subject of several research reports. Citigroup downgraded shares of National Grid from a “buy” rating to a “neutral” rating in a research note on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft began coverage on National Grid in a research note on Wednesday, October 2nd. They set a “buy” rating on the stock. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

National Grid Stock Performance

NYSE:NGG opened at $63.58 on Wednesday. The company has a current ratio of 1.61, a quick ratio of 1.54 and a debt-to-equity ratio of 1.18. The company’s fifty day moving average price is $66.69 and its 200-day moving average price is $64.32. National Grid plc has a 1-year low of $55.13 and a 1-year high of $73.40.

National Grid Dividend Announcement

The business also recently disclosed a semi-annual dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Friday, November 22nd will be paid a dividend of $2.4939 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a dividend 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.