Avantax Advisory Services Inc. Boosts Stock Holdings in National Grid plc (NYSE:NGG)

by · The Markets Daily

Avantax Advisory Services Inc. grew its stake in shares of National Grid plc (NYSE:NGG – Free Report) by 6.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 85,449 shares of the utilities provider’s stock after buying an additional 5,552 shares during the period. Avantax Advisory Services Inc.’s holdings in National Grid were worth $5,181,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Bank of America Corp DE grew its stake in shares of National Grid by 2.8% during the 1st quarter. Bank of America Corp DE now owns 3,185,564 shares of the utilities provider’s stock valued at $216,586,000 after buying an additional 85,586 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of National Grid by 4.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,774,568 shares of the utilities provider’s stock valued at $119,482,000 after acquiring an additional 82,420 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of National Grid by 11.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,412,957 shares of the utilities provider’s stock valued at $95,134,000 after acquiring an additional 150,656 shares in the last quarter. Raymond James & Associates lifted its holdings in shares of National Grid by 11.8% during the 2nd quarter. Raymond James & Associates now owns 1,281,224 shares of the utilities provider’s stock valued at $86,265,000 after acquiring an additional 135,337 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of National Grid by 10.6% during the 2nd quarter. Wells Fargo & Company MN now owns 1,123,060 shares of the utilities provider’s stock valued at $75,616,000 after acquiring an additional 107,706 shares in the last quarter. 4.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NGG. Deutsche Bank Aktiengesellschaft upgraded shares of National Grid from a “hold” rating to a “buy” rating in a report on Tuesday, January 16th. UBS Group upgraded shares of National Grid from a “neutral” rating to a “buy” rating in a report on Monday, December 11th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, National Grid has an average rating of “Moderate Buy” and an average price target of $1,201.67.

Check Out Our Latest Stock Report on National Grid

National Grid Trading Down 2.5 %

Shares of NGG stock opened at $66.88 on Friday. National Grid plc has a 12 month low of $56.40 and a 12 month high of $74.48. The company has a current ratio of 0.93, a quick ratio of 0.82 and a debt-to-equity ratio of 1.43. The company’s fifty day moving average price is $67.59 and its two-hundred day moving average price is $64.27.

National Grid Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Thursday, January 11th. Stockholders of record on Friday, November 24th were given a $1.1899 dividend. This represents a dividend yield of 5.8%. The ex-dividend date was Wednesday, November 22nd.

About National Grid

(Free Report)

National Grid plc transmits and distributes electricity and gas. The company 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.

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