Hennessy Advisors Inc. Purchases 5,700 Shares of National Grid plc (NYSE:NGG)

Hennessy Advisors Inc. lifted its position in shares of National Grid plc (NYSE:NGG) by 2.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 209,144 shares of the utilities provider’s stock after purchasing an additional 5,700 shares during the period. Hennessy Advisors Inc.’s holdings in National Grid were worth $12,427,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Moors & Cabot Inc. boosted its position in National Grid by 3.2% during the 3rd quarter. Moors & Cabot Inc. now owns 5,600 shares of the utilities provider’s stock worth $390,000 after buying an additional 175 shares during the period. Profund Advisors LLC lifted its holdings in shares of National Grid by 3.0% during the second quarter. Profund Advisors LLC now owns 7,003 shares of the utilities provider’s stock worth $398,000 after purchasing an additional 203 shares during the period. Carr Financial Group Corp grew its stake in shares of National Grid by 3.9% in the third quarter. Carr Financial Group Corp now owns 5,416 shares of the utilities provider’s stock worth $377,000 after purchasing an additional 205 shares during the last quarter. Concord Wealth Partners increased its holdings in National Grid by 11.2% in the third quarter. Concord Wealth Partners now owns 2,053 shares of the utilities provider’s stock valued at $143,000 after purchasing an additional 206 shares during the period. Finally, GAMMA Investing LLC raised its position in National Grid by 22.3% during the 4th quarter. GAMMA Investing LLC now owns 1,229 shares of the utilities provider’s stock worth $73,000 after purchasing an additional 224 shares during the last quarter. 4.68% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

National Grid Stock Up 2.7 %

Shares of NYSE:NGG opened at $59.16 on Friday. National Grid plc has a 1 year low of $55.13 and a 1 year high of $73.40. 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 business’s 50-day moving average is $60.66 and its 200-day moving average is $63.70.

National Grid Dividend Announcement

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

About National Grid

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.