D.A. Davidson & CO. Invests $240,000 in National Grid Transco, PLC (NYSE:NGG)

D.A. Davidson & CO. purchased a new position in shares of National Grid Transco, PLC (NYSE:NGG - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,652 shares of the utilities provider's stock, valued at approximately $240,000.

A number of other institutional investors and hedge funds have also made changes to their positions in NGG. Golden State Wealth Management LLC acquired a new stake in National Grid Transco in the 1st quarter valued at approximately $28,000. Brown Brothers Harriman & Co. increased its position 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 valued at $29,000 after acquiring an additional 198 shares during the period. SJS Investment Consulting Inc. acquired a new stake in National Grid Transco in the 1st quarter valued at approximately $29,000. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in National Grid Transco in the 4th quarter valued at approximately $53,000. Finally, Sound Income Strategies LLC increased its position in National Grid Transco by 197.3% in the 1st quarter. Sound Income Strategies LLC now owns 877 shares of the utilities provider's stock valued at $58,000 after acquiring an additional 582 shares during the period. 4.68% of the stock is currently owned by institutional investors and hedge funds.

National Grid Transco Stock Down 0.2%

NGG traded down $0.11 during trading on Tuesday, reaching $71.01. 993,479 shares of the stock traded hands, compared to its average volume of 757,486. The stock has a market cap of $69.48 billion, a price-to-earnings ratio of 13.66, a price-to-earnings-growth ratio of 1.59 and a beta of 0.63. National Grid Transco, PLC has a fifty-two week low of $54.24 and a fifty-two week high of $74.58. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.35 and a quick ratio of 1.30. The stock's 50-day simple moving average is $71.78 and its two-hundred day simple moving average is $66.43.

National Grid Transco Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Monday, July 28th. Shareholders of record on Friday, May 30th will be issued 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 (DPR) is currently 78.08%.

Analysts Set New Price Targets

NGG has been the topic of several research analyst reports. Wall Street Zen cut National Grid Transco from a "hold" rating to a "sell" rating in a research report on Friday, May 16th. BNP Paribas upgraded National Grid Transco from an "outperform" rating to a "strong-buy" rating in a research report on Thursday, May 29th. BNP Paribas Exane began coverage on National Grid Transco in a research note on Thursday, May 29th. They set an "outperform" rating and a $80.40 price objective for the company. UBS Group lowered National Grid Transco from a "buy" rating to a "neutral" rating in a research note on Tuesday, April 29th. Finally, Sanford C. Bernstein raised National Grid Transco from a "market perform" rating to an "outperform" rating in a research note on Monday, March 17th. 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 given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus 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.