Primoris Wealth Advisors LLC Buys New Stake in National Grid plc (NYSE:NGG)

Primoris Wealth Advisors LLC purchased a new position in shares of National Grid plc (NYSE:NGG) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,310 shares of the utilities provider’s stock, valued at approximately $231,000.

A number of other hedge funds also recently made changes to their positions in NGG. RFP Financial Group LLC boosted its stake in shares of National Grid by 119.8% in the first quarter. RFP Financial Group LLC now owns 367 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 200 shares during the period. Headlands Technologies LLC bought a new stake in National Grid in the first quarter valued at $27,000. Bessemer Group Inc. bought a new position in National Grid in the 1st quarter worth about $29,000. Rothschild Investment LLC acquired a new stake in National Grid in the 2nd quarter valued at approximately $37,000. Finally, Fortitude Family Office LLC acquired a new stake in National Grid in the third quarter worth about $37,000. Institutional investors and hedge funds own 4.68% of the company’s stock.

National Grid Trading Down 0.6 %

NYSE NGG traded down $0.36 during trading on Friday, reaching $63.94. 488,061 shares of the company traded hands, compared to its average volume of 407,374. The stock’s 50 day moving average price is $67.34 and its two-hundred day moving average price is $64.56. National Grid plc has a 1-year low of $55.13 and a 1-year high of $73.40. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.41.

National Grid Dividend Announcement

The company also recently disclosed a semi-annual dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Friday, November 22nd will be given a $2.4939 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a yield of 4%.

Analyst Ratings Changes

A number of analysts have recently commented on NGG shares. Deutsche Bank Aktiengesellschaft started coverage on National Grid in a research note on Wednesday, October 2nd. They issued a “buy” rating on the stock. Citigroup lowered shares of National Grid from a “buy” rating to a “neutral” rating in a report on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, National Grid currently has an average rating of “Moderate Buy”.

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.