National Grid Transco, PLC (NYSE:NGG) Shares Acquired by Assetmark Inc.

Assetmark Inc. lifted its holdings in National Grid Transco, PLC (NYSE:NGG - Free Report) by 23.1% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 45,290 shares of the utilities provider's stock after purchasing an additional 8,506 shares during the period. Assetmark Inc.'s holdings in National Grid Transco were worth $2,972,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new position in National Grid Transco during the 1st quarter worth approximately $28,000. Cambridge Investment Research Advisors Inc. lifted its position in shares of National Grid Transco by 3.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 13,826 shares of the utilities provider's stock worth $907,000 after buying an additional 500 shares during the last quarter. Kingswood Wealth Advisors LLC lifted its position in shares of National Grid Transco by 25.5% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 6,056 shares of the utilities provider's stock worth $398,000 after buying an additional 1,231 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of National Grid Transco by 97.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 9,481 shares of the utilities provider's stock worth $624,000 after buying an additional 4,675 shares during the last quarter. Finally, Two Sigma Investments LP lifted its position in shares of National Grid Transco by 8.9% during the 4th quarter. Two Sigma Investments LP now owns 5,100 shares of the utilities provider's stock worth $303,000 after buying an additional 417 shares during the last quarter. Institutional investors and hedge funds own 4.68% of the company's stock.

Analysts Set New Price Targets

NGG has been the subject of several recent analyst reports. Citigroup restated a "neutral" rating on shares of National Grid Transco in a research report on Tuesday, May 6th. Barclays restated an "overweight" rating on shares of National Grid Transco in a research report on Friday, May 16th. BNP Paribas Exane initiated coverage on shares of National Grid Transco in a research report on Thursday, May 29th. They set an "outperform" rating and a $80.40 price objective for the company. UBS Group downgraded shares of National Grid Transco from a "buy" rating to a "neutral" rating in a research report on Tuesday, April 29th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of National Grid Transco in a research report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $80.40.

National Grid Transco Stock Performance

NGG stock traded up $1.43 on Friday, hitting $71.82. The company's stock had a trading volume of 893,509 shares, compared to its average volume of 911,836. The firm has a 50 day moving average of $71.93 and a two-hundred day moving average of $67.49. National Grid Transco, PLC has a 1 year low of $55.82 and a 1 year high of $74.82. The stock has a market cap of $70.41 billion, a price-to-earnings ratio of 13.81, a price-to-earnings-growth ratio of 1.59 and a beta of 0.63. The company has a current ratio of 1.35, a quick ratio of 1.30 and a debt-to-equity ratio of 1.13.

National Grid Transco Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Monday, July 28th. Investors of record on Friday, May 30th were given a $2.0345 dividend. The ex-dividend date was Friday, May 30th. This represents a yield of 470.0%. National Grid Transco's dividend payout ratio is 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.