251,502 Shares in National Grid Transco, PLC $NGG Acquired by Ferguson Wellman Capital Management Inc.

Key Points

• Ferguson Wellman Capital Management opened a new position in National Grid Transco during the first quarter, buying 251,502 shares valued at about $21.3 million.
• Several other hedge funds also adjusted their stakes, and institutional investors now own 4.68% of National Grid Transco’s stock.
• Analyst sentiment remains cautious: the stock has a consensus rating of "Reduce" with an average price target of $85.50, while the shares recently traded at $82.63.

Ferguson Wellman Capital Management Inc. bought a new position in shares of National Grid Transco, PLC (NYSE:NGG - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 251,502 shares of the utilities provider's stock, valued at approximately $21,277,000.

A number of other hedge funds also recently modified their holdings of the business. Root Financial Partners LLC raised its position in National Grid Transco by 88.2% during the 4th quarter. Root Financial Partners LLC now owns 318 shares of the utilities provider's stock worth $25,000 after purchasing an additional 149 shares during the last quarter. Johnson Financial Group Inc. bought a new stake in shares of National Grid Transco in the 3rd quarter valued at about $25,000. Cullen Frost Bankers Inc. increased its stake in shares of National Grid Transco by 88.0% in the fourth quarter. Cullen Frost Bankers Inc. now owns 346 shares of the utilities provider's stock valued at $27,000 after buying an additional 162 shares during the period. Measured Wealth Private Client Group LLC bought a new position in shares of National Grid Transco during the third quarter worth about $28,000. Finally, Hilton Head Capital Partners LLC acquired a new position in shares of National Grid Transco in the fourth quarter worth approximately $34,000. Institutional investors and hedge funds own 4.68% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NGG. Citigroup reissued a "neutral" rating on shares of National Grid Transco in a research report on Tuesday, April 28th. The Goldman Sachs Group reiterated a "neutral" rating on shares of National Grid Transco in a research report on Monday, March 23rd. Royal Bank Of Canada reissued a "sector perform" rating on shares of National Grid Transco in a research note on Monday, June 1st. Morgan Stanley reiterated an "overweight" rating on shares of National Grid Transco in a report on Friday, May 29th. Finally, UBS Group restated a "sell" rating on shares of National Grid Transco in a research report on Monday, March 16th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average target price of $85.50.

National Grid Transco Stock Performance

Shares of NGG stock traded up $0.31 on Friday, reaching $82.63. 470,436 shares of the company were exchanged, compared to its average volume of 1,107,696. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.76 and a quick ratio of 0.71. The company has a 50-day moving average of $83.41 and a 200-day moving average of $84.85. National Grid Transco, PLC has a one year low of $67.51 and a one year high of $94.64.

National Grid Transco Announces Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, July 23rd. Stockholders of record on Friday, May 29th will be issued a dividend of $2.1738 per share. The ex-dividend date is Friday, May 29th. This represents a dividend yield of 533.0%.

National Grid Transco Company Profile

National Grid Transco NYSE: NGG is a utility company focused on the transmission and distribution of electricity and natural gas. The company builds, owns, operates and maintains large-scale energy infrastructure, including high-voltage electricity transmission lines, electricity distribution networks and high-pressure gas pipelines. Its core activities center on providing safe, reliable delivery of energy to residential, commercial and industrial customers while meeting regulatory requirements across its service territories.

Services provided by National Grid Transco encompass network operation and maintenance, system balancing and control, metering and connections, and capital investment in grid modernization and reliability projects.

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