Ritholtz Wealth Management Acquires New Shares in National Grid Transco, PLC (NYSE:NGG)

Ritholtz Wealth Management acquired a new position in shares of National Grid Transco, PLC (NYSE:NGG - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 8,917 shares of the utilities provider's stock, valued at approximately $585,000.

Several other large investors have also modified their holdings of the stock. Gradient Investments LLC boosted its stake in shares of National Grid Transco by 2.0% during the 1st quarter. Gradient Investments LLC now owns 8,156 shares of the utilities provider's stock worth $535,000 after acquiring an additional 163 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of National Grid Transco by 20.0% during the 4th quarter. IFP Advisors Inc now owns 1,043 shares of the utilities provider's stock worth $62,000 after acquiring an additional 174 shares in the last quarter. Rothschild Investment LLC boosted its stake in shares of National Grid Transco by 36.2% during the 4th quarter. Rothschild Investment LLC now owns 723 shares of the utilities provider's stock worth $43,000 after acquiring an additional 192 shares in the last quarter. Verdence Capital Advisors LLC boosted its stake in shares of National Grid Transco by 0.8% during the 4th quarter. Verdence Capital Advisors LLC now owns 23,925 shares of the utilities provider's stock worth $1,422,000 after acquiring an additional 196 shares in the last quarter. Finally, Brown Brothers Harriman & Co. boosted its stake in shares of National Grid Transco by 67.6% during the 4th quarter. Brown Brothers Harriman & Co. now owns 491 shares of the utilities provider's stock worth $29,000 after acquiring an additional 198 shares in the last quarter. 4.68% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NGG has been the subject of several research reports. Wall Street Zen lowered National Grid Transco from a "hold" rating to a "sell" rating in a research note on Friday, May 16th. Barclays reissued an "overweight" rating on shares of National Grid Transco in a research note on Friday, May 16th. UBS Group cut National Grid Transco from a "buy" rating to a "neutral" rating in a research report on Tuesday, April 29th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of National Grid Transco in a research report on Wednesday, May 21st. Finally, BNP Paribas Exane started coverage on National Grid Transco in a research report on Thursday, May 29th. They issued an "outperform" rating and a $80.40 target price for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $80.40.

National Grid Transco Stock Down 0.3%

Shares of National Grid Transco stock traded down $0.22 during midday trading on Friday, hitting $70.80. The company's stock had a trading volume of 1,239,506 shares, compared to its average volume of 760,472. The firm has a market capitalization of $69.28 billion, a P/E ratio of 13.62, a PEG ratio of 6.13 and a beta of 0.63. The stock has a 50-day simple moving average of $71.76 and a 200-day simple moving average of $64.98. The company has a quick ratio of 1.30, a current ratio of 1.35 and a debt-to-equity ratio of 1.13. National Grid Transco, PLC has a 1-year low of $53.65 and a 1-year high of $73.03.

National Grid Transco Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Monday, July 28th. Stockholders of record on Friday, May 30th will be given a $2.0345 dividend. The ex-dividend date is Friday, May 30th. This represents a dividend yield of 4.7%. National Grid Transco's dividend payout ratio (DPR) is presently 78.27%.

National Grid Transco Company Profile

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.