Bank of America Corp DE Sells 408,848 Shares of National Grid Transco, PLC $NGG

Bank of America Corp DE lowered its holdings in shares of National Grid Transco, PLC (NYSE:NGG - Free Report) by 8.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,481,010 shares of the utilities provider's stock after selling 408,848 shares during the quarter. Bank of America Corp DE owned approximately 0.45% of National Grid Transco worth $379,093,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NGG. Sound Income Strategies LLC lifted its holdings in National Grid Transco by 13.6% in the 1st quarter. Sound Income Strategies LLC now owns 1,075 shares of the utilities provider's stock worth $93,000 after purchasing an additional 129 shares in the last quarter. Natural Investments LLC grew its stake in National Grid Transco by 1.2% during the fourth quarter. Natural Investments LLC now owns 11,617 shares of the utilities provider's stock valued at $898,000 after acquiring an additional 133 shares in the last quarter. Root Financial Partners LLC increased its holdings in National Grid Transco by 88.2% in the 4th quarter. Root Financial Partners LLC now owns 318 shares of the utilities provider's stock valued at $25,000 after acquiring an additional 149 shares during the last quarter. IFP Advisors Inc lifted its stake in National Grid Transco by 28.1% in the 3rd quarter. IFP Advisors Inc now owns 692 shares of the utilities provider's stock worth $50,000 after purchasing an additional 152 shares in the last quarter. Finally, Optas LLC boosted its holdings in shares of National Grid Transco by 1.9% during the 4th quarter. Optas LLC now owns 8,739 shares of the utilities provider's stock valued at $676,000 after purchasing an additional 160 shares during the last quarter. Institutional investors own 4.68% of the company's stock.

Analysts Set New Price Targets

NGG has been the topic of several research reports. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of National Grid Transco in a report on Monday, June 1st. Citigroup reaffirmed a "neutral" rating on shares of National Grid Transco in a research note on Tuesday, April 28th. Deutsche Bank Aktiengesellschaft downgraded National Grid Transco from a "buy" rating to a "hold" rating in a research report on Monday, June 8th. Morgan Stanley reissued an "overweight" rating on shares of National Grid Transco in a report on Friday, May 29th. Finally, Wall Street Zen cut shares of National Grid Transco from a "buy" rating to a "hold" rating in a research report on Sunday. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average price target of $85.50.

National Grid Transco Stock Up 0.0%

Shares of NYSE NGG opened at $79.99 on Monday. The business's 50 day moving average is $82.16 and its two-hundred day moving average is $85.30. 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 1-year low of $67.51 and a 1-year high of $94.64.

National Grid Transco Announces Dividend

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

About National Grid Transco

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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