National Grid Transco, PLC (NYSE:NGG) Position Cut by Avantax Advisory Services Inc.

Key Points

• Avantax Advisory Services Inc. sold 86,185 shares of National Grid Transco, reducing its holdings by 85.6% and leaving it with 14,461 shares worth approximately $949,000.
• Institutional investors collectively own 4.68% of National Grid Transco, with several firms, including FMR LLC and Orion Portfolio Solutions, increasing their stakes during the last quarter.
• Analysts have mixed ratings on National Grid Transco, with one recent report from Wall Street Zen downgrading the stock to a "sell," while others maintain a bullish outlook with a price target of $80.40.

Avantax Advisory Services Inc. trimmed its stake in shares of National Grid Transco, PLC (NYSE:NGG - Free Report) by 85.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,461 shares of the utilities provider's stock after selling 86,185 shares during the period. Avantax Advisory Services Inc.'s holdings in National Grid Transco were worth $949,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Orion Portfolio Solutions LLC increased its position in National Grid Transco by 10.5% in the fourth quarter. Orion Portfolio Solutions LLC now owns 12,755 shares of the utilities provider's stock worth $758,000 after buying an additional 1,211 shares during the period. Headlands Technologies LLC acquired a new position in National Grid Transco during the 4th quarter worth about $164,000. World Investment Advisors boosted its stake in National Grid Transco by 19.0% in the fourth quarter. World Investment Advisors now owns 8,918 shares of the utilities provider's stock valued at $530,000 after acquiring an additional 1,422 shares during the last quarter. Pitcairn Co. grew its holdings in shares of National Grid Transco by 7.9% in the 4th quarter. Pitcairn Co. now owns 3,874 shares of the utilities provider's stock valued at $230,000 after buying an additional 285 shares during the period. Finally, FMR LLC increased its position in shares of National Grid Transco by 11.9% in the 4th quarter. FMR LLC now owns 4,462,898 shares of the utilities provider's stock valued at $265,185,000 after buying an additional 473,172 shares in the last quarter. Hedge funds and other institutional investors own 4.68% of the company's stock.

National Grid Transco Trading Up 0.4%

Shares of NGG stock traded up $0.31 on Wednesday, hitting $72.59. 395,548 shares of the stock traded hands, compared to its average volume of 904,577. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.30 and a current ratio of 1.35. National Grid Transco, PLC has a twelve month low of $55.82 and a twelve month high of $74.82. The firm's 50-day moving average price is $71.78 and its two-hundred day moving average price is $67.85. The stock has a market capitalization of $71.16 billion, a PE ratio of 13.95, a PEG ratio of 1.64 and a beta of 0.63.

National Grid Transco Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Monday, July 28th. Shareholders of record on Friday, May 30th were issued a dividend of $2.0345 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a yield of 470.0%. National Grid Transco's dividend payout ratio (DPR) is presently 78.27%.

Wall Street Analyst Weigh In

NGG has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of National Grid Transco in a research report on Wednesday, May 21st. BNP Paribas Exane began coverage on National Grid Transco in a research report on Thursday, May 29th. They set an "outperform" rating and a $80.40 price target on the stock. UBS Group downgraded National Grid Transco from a "buy" rating to a "neutral" rating in a report on Tuesday, April 29th. Wall Street Zen lowered shares of National Grid Transco from a "hold" rating to a "sell" rating in a research report on Friday, May 16th. Finally, Citigroup reissued a "neutral" rating on shares of National Grid Transco in a research report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, National Grid Transco currently has an average rating of "Moderate Buy" and an average price target of $80.40.

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.