Assetmark Inc. Sells 11,946 Shares of National Grid Transco, PLC $NGG

Key Points

• Assetmark Inc. cut its stake in National Grid Transco by 22.7% in the first quarter, selling 11,946 shares and leaving it with 40,701 shares valued at about $3.44 million.
• The stock was up 2.2% in Thursday trading, opening at $83.89, while its 12-month range sits between $67.51 and $94.64.
• National Grid Transco announced a $2.1738 dividend payable on July 23, and Wall Street currently has a consensus rating of “Reduce” with a $85.50 price target.

Assetmark Inc. lessened its stake in National Grid Transco, PLC (NYSE:NGG - Free Report) by 22.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,701 shares of the utilities provider's stock after selling 11,946 shares during the quarter. Assetmark Inc.'s holdings in National Grid Transco were worth $3,443,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Pacific Financial raised its holdings in shares of National Grid Transco by 194,350.0% in the fourth quarter. First Pacific Financial now owns 11,667 shares of the utilities provider's stock valued at $902,000 after purchasing an additional 11,661 shares during the last quarter. SG Americas Securities LLC raised its position in National Grid Transco by 47,478.9% during the fourth quarter. SG Americas Securities LLC now owns 892,580 shares of the utilities provider's stock worth $69,041,000 after acquiring an additional 890,704 shares in the last quarter. Perpetual Ltd acquired a new stake in National Grid Transco in the fourth quarter valued at $2,347,000. Miller Howard Investments Inc. NY lifted its stake in National Grid Transco by 23.5% in the first quarter. Miller Howard Investments Inc. NY now owns 120,490 shares of the utilities provider's stock valued at $10,193,000 after acquiring an additional 22,898 shares during the last quarter. Finally, Perigon Wealth Management LLC bought a new position in shares of National Grid Transco in the 4th quarter valued at about $464,000. 4.68% of the stock is owned by institutional investors and hedge funds.

National Grid Transco Trading Up 2.2%

NYSE NGG opened at $83.89 on Thursday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.76 and a quick ratio of 0.71. National Grid Transco, PLC has a 12-month low of $67.51 and a 12-month high of $94.64. The firm has a 50-day moving average price of $82.72 and a two-hundred day moving average price of $85.22.

National Grid Transco Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NGG. Weiss Ratings restated a "hold (c)" rating on shares of National Grid Transco in a research note on Friday, July 17th. Morgan Stanley reissued an "overweight" rating on shares of National Grid Transco in a research report on Friday, May 29th. Citigroup restated a "neutral" rating on shares of National Grid Transco in a research note on Tuesday, April 28th. Deutsche Bank Aktiengesellschaft cut shares of National Grid Transco from a "buy" rating to a "hold" rating in a report on Monday, June 8th. Finally, Royal Bank Of Canada restated a "sector perform" rating on shares of National Grid Transco in a research report on Monday, June 1st. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus price target of $85.50.

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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