Keudell Morrison Wealth Management Trims Stock Holdings in National Grid plc (NYSE:NGG)

Keudell Morrison Wealth Management reduced its stake in shares of National Grid plc (NYSE:NGG) by 2.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,584 shares of the utilities provider’s stock after selling 229 shares during the period. Keudell Morrison Wealth Management’s holdings in National Grid were worth $451,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. FMR LLC lifted its holdings in National Grid by 77.3% during the third quarter. FMR LLC now owns 3,989,726 shares of the utilities provider’s stock valued at $277,964,000 after purchasing an additional 1,739,566 shares in the last quarter. Merewether Investment Management LP purchased a new position in shares of National Grid during the 3rd quarter valued at $66,535,000. Ausbil Investment Management Ltd purchased a new stake in National Grid in the 3rd quarter worth $62,421,000. Bank of Montreal Can increased its stake in National Grid by 3.1% in the 3rd quarter. Bank of Montreal Can now owns 553,394 shares of the utilities provider’s stock worth $38,588,000 after buying an additional 16,610 shares in the last quarter. Finally, Mediolanum International Funds Ltd bought a new stake in National Grid during the third quarter valued at about $38,021,000. 4.68% of the stock is currently owned by institutional investors.

National Grid Trading Up 1.5 %

Shares of NYSE:NGG opened at $61.70 on Friday. 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 has a fifty day moving average price of $60.07 and a 200 day moving average price of $63.71. 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 disclosed a semi-annual dividend, which was paid on Tuesday, January 14th. Stockholders of record on Friday, November 22nd were given a dividend of $2.4939 per share. The ex-dividend date was Friday, November 22nd. This represents a dividend yield of 4%.

Analyst Ratings Changes

Separately, Citigroup upgraded National Grid from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 21st. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, 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.