Fulton Bank N.A. Sells 325 Shares of National Grid plc (NYSE:NGG)

Fulton Bank N.A. reduced its position in National Grid plc (NYSE:NGG) by 0.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,952 shares of the utilities provider’s stock after selling 325 shares during the quarter. Fulton Bank N.A.’s holdings in National Grid were worth $1,985,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. RFP Financial Group LLC boosted its position in shares of National Grid by 119.8% during the first quarter. RFP Financial Group LLC now owns 367 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 200 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of National Grid during the first quarter worth $27,000. Richardson Financial Services Inc. bought a new position in shares of National Grid during the first quarter worth $28,000. Bessemer Group Inc. bought a new position in shares of National Grid during the first quarter worth $29,000. Finally, Creekmur Asset Management LLC bought a new position in shares of National Grid during the fourth quarter worth $29,000. 4.68% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. The Goldman Sachs Group raised shares of National Grid from a “neutral” rating to a “buy” rating in a research note on Wednesday, June 12th. Citigroup raised shares of National Grid from a “neutral” rating to a “buy” rating in a research note on Monday, June 3rd. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, National Grid has an average rating of “Moderate Buy”.

National Grid Stock Performance

Shares of NGG traded up $0.65 during midday trading on Tuesday, hitting $62.76. The stock had a trading volume of 708,727 shares, compared to its average volume of 572,913. National Grid plc has a 1 year low of $55.13 and a 1 year high of $73.40. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.41. The stock’s 50 day moving average is $59.61 and its 200 day moving average is $64.51.

National Grid Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Friday, July 19th. Stockholders of record on Friday, June 7th were paid a $2.4939 dividend. The ex-dividend date was Friday, June 7th. This represents a dividend yield of 6%. This is an increase from National Grid’s previous semi-annual dividend of $1.19.

National Grid Company Profile

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.