First County Bank CT Has $992,000 Position in National Grid plc (NYSE:NGG)

First County Bank CT lessened its position in National Grid plc (NYSE:NGG) by 4.3% during the first quarter, Holdings Channel reports. The institutional investor owned 15,120 shares of the utilities provider’s stock after selling 676 shares during the quarter. First County Bank CT’s holdings in National Grid were worth $992,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Whipplewood Advisors LLC bought a new position in shares of National Grid during the 4th quarter worth approximately $25,000. Brown Brothers Harriman & Co. boosted its holdings in National Grid by 67.6% during the fourth quarter. Brown Brothers Harriman & Co. now owns 491 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 198 shares during the last quarter. Larson Financial Group LLC increased its stake in National Grid by 145.6% in the 4th quarter. Larson Financial Group LLC now owns 700 shares of the utilities provider’s stock valued at $42,000 after buying an additional 415 shares during the last quarter. Rothschild Investment LLC lifted its position in National Grid by 36.2% during the 4th quarter. Rothschild Investment LLC now owns 723 shares of the utilities provider’s stock worth $43,000 after buying an additional 192 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp bought a new stake in National Grid during the 4th quarter worth about $53,000. Institutional investors and hedge funds own 4.68% of the company’s stock.

National Grid Price Performance

NYSE:NGG opened at $72.56 on Friday. National Grid plc has a 52 week low of $54.24 and a 52 week high of $74.82. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.54 and a current ratio of 1.61. The firm’s 50-day simple moving average is $69.75 and its 200 day simple moving average is $64.04. The firm has a market cap of $71.00 billion, a price-to-earnings ratio of 13.95, a P/E/G ratio of 5.64 and a beta of 0.63.

National Grid Cuts Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Monday, July 28th. Shareholders of record on Friday, May 30th will be issued a $2.0345 dividend. The ex-dividend date is Friday, May 30th. This represents a yield of 4.7%. National Grid’s dividend payout ratio is presently 78.08%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of National Grid in a research note on Wednesday, May 21st. BNP Paribas Exane began coverage on shares of National Grid in a research note on Thursday. They issued an “outperform” rating and a $80.40 target price for the company. Wall Street Zen downgraded shares of National Grid from a “hold” rating to a “sell” rating in a report on Friday, May 16th. BNP Paribas raised shares of National Grid from an “outperform” rating to a “strong-buy” rating in a report on Thursday. Finally, Sanford C. Bernstein upgraded National Grid from a “market perform” rating to an “outperform” rating in a report on Monday, March 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.40.

National Grid Company 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.