8,367 Shares in National Grid Transco, PLC (NYSE:NGG) Acquired by Code Waechter LLC

Code Waechter LLC purchased a new position in shares of National Grid Transco, PLC (NYSE:NGG - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 8,367 shares of the utilities provider's stock, valued at approximately $549,000.

A number of other institutional investors also recently modified their holdings of NGG. First Horizon Advisors Inc. increased its holdings in National Grid Transco by 13.9% in the 1st quarter. First Horizon Advisors Inc. now owns 1,227 shares of the utilities provider's stock worth $81,000 after purchasing an additional 150 shares in the last quarter. Gradient Investments LLC increased its holdings in National Grid Transco by 2.0% in the 1st quarter. Gradient Investments LLC now owns 8,156 shares of the utilities provider's stock worth $535,000 after purchasing an additional 163 shares in the last quarter. Brown Brothers Harriman & Co. increased its holdings in National Grid Transco by 67.6% in the 4th quarter. Brown Brothers Harriman & Co. now owns 491 shares of the utilities provider's stock worth $29,000 after purchasing an additional 198 shares in the last quarter. Two Sigma Advisers LP increased its holdings in National Grid Transco by 1.6% in the 4th quarter. Two Sigma Advisers LP now owns 12,500 shares of the utilities provider's stock worth $743,000 after purchasing an additional 200 shares in the last quarter. Finally, Investors Research Corp increased its holdings in National Grid Transco by 5.3% in the 1st quarter. Investors Research Corp now owns 4,227 shares of the utilities provider's stock worth $277,000 after purchasing an additional 211 shares in the last quarter. Institutional investors and hedge funds own 4.68% of the company's stock.

Analyst Ratings Changes

NGG has been the subject of a number of recent research reports. Barclays reaffirmed an "overweight" rating on shares of National Grid Transco in a report on Friday, May 16th. Citigroup reissued a "neutral" rating on shares of National Grid Transco in a research note on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of National Grid Transco in a research note on Wednesday, May 21st. UBS Group cut National Grid Transco from a "buy" rating to a "neutral" rating in a research note on Tuesday, April 29th. Finally, BNP Paribas raised National Grid Transco from an "outperform" rating to a "strong-buy" rating in a research note on Thursday, May 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $80.40.

National Grid Transco Trading Down 0.7%

Shares of NGG stock traded down $0.50 on Friday, hitting $70.15. The company had a trading volume of 940,807 shares, compared to its average volume of 756,614. The firm has a market cap of $68.64 billion, a P/E ratio of 13.49, a P/E/G ratio of 1.59 and a beta of 0.63. The stock's 50-day moving average is $71.79 and its two-hundred day moving average is $66.35. 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 $54.24 and a twelve month 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 paid a dividend of $2.0345 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a yield of 4.7%. National Grid Transco's dividend payout ratio is currently 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.