AMG National Trust Bank Increases Position in National Grid Transco, PLC (NYSE:NGG)

AMG National Trust Bank grew its holdings in shares of National Grid Transco, PLC (NYSE:NGG - Free Report) by 131.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,392 shares of the utilities provider's stock after purchasing an additional 15,572 shares during the period. AMG National Trust Bank's holdings in National Grid Transco were worth $1,797,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Private Advisor Group LLC lifted its holdings in shares of National Grid Transco by 4.3% during the 1st quarter. Private Advisor Group LLC now owns 8,055 shares of the utilities provider's stock worth $528,000 after acquiring an additional 331 shares during the period. Bailard Inc. raised its stake in shares of National Grid Transco by 4.5% during the first quarter. Bailard Inc. now owns 8,099 shares of the utilities provider's stock valued at $531,000 after acquiring an additional 346 shares during the last quarter. Graypoint LLC acquired a new stake in National Grid Transco during the 1st quarter valued at approximately $213,000. Verdence Capital Advisors LLC increased its position in National Grid Transco by 9.5% during the 1st quarter. Verdence Capital Advisors LLC now owns 26,195 shares of the utilities provider's stock valued at $1,719,000 after purchasing an additional 2,270 shares during the period. Finally, Mayflower Financial Advisors LLC raised its stake in National Grid Transco by 4.0% during the first quarter. Mayflower Financial Advisors LLC now owns 3,649 shares of the utilities provider's stock worth $239,000 after buying an additional 140 shares during the last quarter. Institutional investors and hedge funds own 4.68% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on NGG shares. Barclays reissued an "overweight" rating on shares of National Grid Transco in a research note on Friday, May 16th. UBS Group downgraded shares of National Grid Transco from a "buy" rating to a "neutral" rating in a research note on Tuesday, April 29th. Royal Bank Of Canada downgraded shares of National Grid Transco from an "outperform" rating to a "sector perform" rating in a research note on Wednesday, May 28th. BNP Paribas raised shares of National Grid Transco from an "outperform" rating to a "strong-buy" rating in a research note on Thursday, May 29th. Finally, Citigroup reissued a "neutral" rating on shares of National Grid Transco in a research report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, National Grid Transco has an average rating of "Moderate Buy" and an average target price of $80.40.

National Grid Transco Price Performance

NYSE NGG traded up $0.96 on Monday, hitting $72.53. The stock had a trading volume of 630,343 shares, compared to its average volume of 753,298. The firm has a 50-day moving average of $71.76 and a 200-day moving average of $66.76. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.30 and a current ratio of 1.35. The company has a market capitalization of $71.10 billion, a price-to-earnings ratio of 13.95, a price-to-earnings-growth ratio of 1.62 and a beta of 0.63. National Grid Transco, PLC has a 52-week low of $54.24 and a 52-week high of $74.58.

National Grid Transco Cuts Dividend

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

National Grid Transco 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.