Allspring Global Investments Holdings LLC Has $624,000 Stock Position in National Grid Transco, PLC (NYSE:NGG)

Allspring Global Investments Holdings LLC increased its stake in National Grid Transco, PLC (NYSE:NGG - Free Report) by 97.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,481 shares of the utilities provider's stock after purchasing an additional 4,675 shares during the period. Allspring Global Investments Holdings LLC's holdings in National Grid Transco were worth $624,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Golden State Wealth Management LLC bought a new position in shares of National Grid Transco in the first quarter worth $28,000. SJS Investment Consulting Inc. bought a new position in shares of National Grid Transco in the first quarter worth $29,000. Brown Brothers Harriman & Co. increased its position in shares of National Grid Transco by 67.6% in the fourth quarter. Brown Brothers Harriman & Co. now owns 491 shares of the utilities provider's stock worth $29,000 after purchasing an additional 198 shares during the period. Larson Financial Group LLC increased its position in shares of National Grid Transco by 145.6% in the fourth quarter. Larson Financial Group LLC now owns 700 shares of the utilities provider's stock worth $42,000 after purchasing an additional 415 shares during the period. Finally, Sound Income Strategies LLC increased its position in shares of National Grid Transco by 197.3% in the first quarter. Sound Income Strategies LLC now owns 877 shares of the utilities provider's stock worth $58,000 after purchasing an additional 582 shares during the period. Institutional investors own 4.68% of the company's stock.

Wall Street Analysts Forecast Growth

NGG has been the topic of a number of recent analyst reports. UBS Group cut National Grid Transco from a "buy" rating to a "neutral" rating in a research report on Tuesday, April 29th. Wall Street Zen lowered National Grid Transco from a "hold" rating to a "sell" rating in a research note on Friday, May 16th. Sanford C. Bernstein raised National Grid Transco from a "market perform" rating to an "outperform" rating in a research note on Monday, March 17th. Royal Bank Of Canada lowered National Grid Transco from an "outperform" rating to a "sector perform" rating in a research note on Wednesday, May 28th. Finally, Barclays reaffirmed an "overweight" rating on shares of National Grid Transco in a research note on Friday, May 16th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $80.40.

National Grid Transco Trading Down 0.7%

Shares of NGG stock traded down $0.50 during mid-day trading on Friday, reaching $70.15. 940,807 shares of the stock traded hands, compared to its average volume of 756,614. The stock's fifty day simple moving average is $71.79 and its two-hundred day simple moving average is $66.30. National Grid Transco, PLC has a 1-year low of $54.24 and a 1-year high of $74.58. The company has a market cap of $68.64 billion, a price-to-earnings ratio of 13.49, a price-to-earnings-growth ratio of 1.64 and a beta of 0.63. 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 Cuts Dividend

The company also recently declared a semi-annual dividend, which will be paid on Monday, July 28th. Stockholders of record on Friday, May 30th will be paid a dividend of $2.0345 per share. This represents a dividend yield of 4.7%. The ex-dividend date is Friday, May 30th. National Grid Transco's payout ratio is 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.