Trade Report: Today, 8,500 Shares of National Grid PLC (NGG) are sold by Hennessy Advisors Inc.

Today, 8,500 Shares of National Grid PLC (NGG) are sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. lowered its stake in shares of National Grid PLC (NYSE:NGG) by 0.8% during the third quarter, Holdings Channel reports. The fund owned 1,062,058 shares of the company’s stock after selling 8,500 shares during the period. National Grid PLC comprises approximately 2.1% of Hennessy Advisors Inc.’s portfolio, making the stock its 5th largest position. Hennessy Advisors Inc. owned approximately 0.14% of National Grid PLC worth $75,523,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Feltz Wealth PLAN Inc. acquired a new position in shares of National Grid PLC during the second quarter valued at $149,000. Integrated Investment Consultants LLC increased its position in shares of National Grid PLC by 1.8% in the second quarter. Integrated Investment Consultants LLC now owns 2,046 shares of the company’s stock valued at $152,000 after buying an additional 36 shares during the period. O Shaughnessy Asset Management LLC increased its position in shares of National Grid PLC by 1.2% in the second quarter. O Shaughnessy Asset Management LLC now owns 2,273 shares of the company’s stock valued at $169,000 after buying an additional 28 shares during the period. Pinkerton Retirement Specialists LLC acquired a new position in shares of National Grid PLC during the second quarter valued at $185,000. Finally, Barclays PLC acquired a new position in shares of National Grid PLC during the second quarter valued at $186,000. 5.71% of the stock is owned by institutional investors and hedge funds.

Shares of National Grid PLC (NYSE:NGG) traded up 0.71% on Monday, hitting $58.40. The stock had a trading volume of 312,274 shares. The firm has a 50 day moving average of $62.79 and a 200 day moving average of $69.47. The stock has a market cap of $43.95 billion, a P/E ratio of 17.43 and a beta of 0.50. National Grid PLC has a 12 month low of $57.29 and a 12 month high of $74.97.

The firm also recently announced a dividend, which will be paid on Wednesday, January 11th. Shareholders of record on Friday, November 25th will be paid a dividend of $0.933 per share. The ex-dividend date of this dividend is Tuesday, November 22nd.

Several equities analysts recently weighed in on NGG shares. Zacks Investment Research downgraded shares of National Grid PLC from a “buy” rating to a “hold” rating in a report on Wednesday, November 9th. Beaufort Securities reiterated a “buy” rating on shares of National Grid PLC in a report on Sunday, August 21st. Sanford C. Bernstein downgraded shares of National Grid PLC from an “outperform” rating to a “market perform” rating in a report on Wednesday, September 7th. Jefferies Group reiterated a “hold” rating on shares of National Grid PLC in a report on Friday, September 23rd. Finally, Citigroup Inc. reiterated a “neutral” rating on shares of National Grid PLC in a report on Wednesday, August 3rd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $76.50.

National Grid PLC Company Profile

National Grid Plc is an electricity and gas utility company. The UK Electricity Transmission includes high voltage electricity transmission networks in Great Britain. Its UK Gas Transmission provides the gas transmission network in Great Britain and UK liquefied natural gas (LNG) storage activities. The Company’s UK Gas Distribution includes four of the eight regional networks of Great Britain’s gas distribution system.

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