Meridian Wealth Management LLC Takes Position in National Grid plc (NYSE:NGG)

Meridian Wealth Management LLC bought a new position in shares of National Grid plc (NYSE:NGG) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 5,565 shares of the utilities provider’s stock, valued at approximately $388,000.

Other institutional investors also recently bought and sold shares of the company. Bessemer Group Inc. purchased a new position in National Grid in the first quarter valued at $29,000. Rothschild Investment LLC acquired a new position in National Grid in the 2nd quarter worth about $37,000. Fortitude Family Office LLC purchased a new position in National Grid during the third quarter worth approximately $37,000. Eastern Bank acquired a new stake in National Grid in the third quarter valued at approximately $42,000. Finally, Mather Group LLC. increased its position in shares of National Grid by 89.9% in the second quarter. Mather Group LLC. now owns 900 shares of the utilities provider’s stock valued at $51,000 after buying an additional 426 shares in the last quarter. 4.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on NGG shares. Citigroup cut shares of National Grid from a “buy” rating to a “neutral” rating in a research report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of National Grid in a research report on Wednesday, October 2nd. They set a “buy” rating for the company. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy”.

National Grid Stock Performance

NYSE NGG opened at $63.11 on Monday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.61 and a quick ratio of 1.54. The stock’s fifty day moving average is $66.32 and its two-hundred day moving average is $64.19. National Grid plc has a fifty-two week low of $55.13 and a fifty-two week high of $73.40.

National Grid Dividend Announcement

The company also recently declared a semi-annual dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Friday, November 22nd will be given 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.