Traders Buy High Volume of Call Options on National Grid (NGG)
National Grid plc (NYSE:NGG) was the recipient of unusually large options trading on Tuesday. Stock investors bought 835 call options on the company. This is an increase of 984% compared to the typical volume of 77 call options.
A number of analysts have commented on the company. ValuEngine raised National Grid from a “sell” rating to a “hold” rating in a report on Thursday, October 11th. Zacks Investment Research upgraded National Grid from a “sell” rating to a “hold” rating in a research note on Thursday, August 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $65.00.
Hedge funds and other institutional investors have recently made changes to their positions in the company. NumerixS Investment Technologies Inc boosted its stake in shares of National Grid by 216.7% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 1,900 shares of the utilities provider’s stock worth $105,000 after buying an additional 1,300 shares during the last quarter. Glenmede Trust Co. NA purchased a new position in shares of National Grid in the 3rd quarter worth approximately $161,000. FMR LLC purchased a new position in shares of National Grid in the 3rd quarter worth approximately $169,000. Cozad Asset Management Inc. purchased a new position in shares of National Grid in the 2nd quarter worth approximately $201,000. Finally, Checchi Capital Advisers LLC purchased a new position in shares of National Grid in the 2nd quarter worth approximately $202,000. Hedge funds and other institutional investors own 5.61% of the company’s stock.
The firm also recently announced a special dividend, which will be paid on Wednesday, January 9th. Stockholders of record on Friday, November 23rd will be paid a $1.0616 dividend. The ex-dividend date is Wednesday, November 21st. This represents a dividend yield of 7.4%. National Grid’s payout ratio is presently 103.82%.
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About National Grid
National Grid Plc engages in the transmission and distribution of electricity and gas. It operates through the following segments: UK Electricity Transmission, UK Gas Transmission, and U.S. Regulated. The UK Electricity Transmission segment engages in electricity transmission in England and Wales. The UK Gas Transmission segment owns and operates the gas national transmission system in Great Britain, with day-to-day responsibility for balancing demand.
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