Entropy Technologies LP Makes New $907,000 Investment in National Grid Transco, PLC (NYSE:NGG)

Key Points

• Entropy Technologies LP acquired 13,831 shares of National Grid Transco, valued at approximately $907,000 in its first-quarter Form 13F filing.
• National Grid Transco has recently seen various institutional investors adjusting their stakes, with significant increases from Allspring Global Investments (97.3%) and Kingswood Wealth Advisors (25.5%).
• On the analyst front, the stock's consensus rating is a "Moderate Buy," with a recent average price target of $80.40, despite conflicting ratings from different firms.

Entropy Technologies LP bought a new stake in National Grid Transco, PLC (NYSE:NGG - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 13,831 shares of the utilities provider's stock, valued at approximately $907,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Mayflower Financial Advisors LLC raised its stake in National Grid Transco by 4.0% during the first quarter. Mayflower Financial Advisors LLC now owns 3,649 shares of the utilities provider's stock worth $239,000 after buying an additional 140 shares during the last quarter. First Horizon Advisors Inc. raised its stake in National Grid Transco by 13.9% during the first quarter. First Horizon Advisors Inc. now owns 1,227 shares of the utilities provider's stock worth $81,000 after buying an additional 150 shares during the last quarter. Sage Rhino Capital LLC raised its stake in National Grid Transco by 3.6% during the first quarter. Sage Rhino Capital LLC now owns 4,524 shares of the utilities provider's stock worth $297,000 after buying an additional 156 shares during the last quarter. Gradient Investments LLC raised its stake in National Grid Transco by 2.0% during the first quarter. Gradient Investments LLC now owns 8,156 shares of the utilities provider's stock worth $535,000 after buying an additional 163 shares during the last quarter. Finally, Barry Investment Advisors LLC raised its stake in National Grid Transco by 1.9% during the first quarter. Barry Investment Advisors LLC now owns 9,246 shares of the utilities provider's stock worth $607,000 after buying an additional 172 shares during 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 analyst reports. BNP Paribas Exane initiated coverage on shares of National Grid Transco in a research note on Thursday, May 29th. They set an "outperform" rating and a $80.40 target price for the company. UBS Group cut shares of National Grid Transco from a "buy" rating to a "neutral" rating in a report on Tuesday, April 29th. Barclays restated an "overweight" rating on shares of National Grid Transco in a report on Friday, May 16th. Royal Bank Of Canada cut shares of National Grid Transco from an "outperform" rating to a "sector perform" rating in a report on Wednesday, May 28th. Finally, Citigroup restated a "neutral" rating on shares of National Grid Transco in a report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $80.40.

National Grid Transco Stock Performance

Shares of NYSE NGG traded up $1.05 during midday trading on Thursday, hitting $71.58. The company's stock had a trading volume of 590,966 shares, compared to its average volume of 893,178. The stock has a fifty day moving average price of $71.70 and a 200 day moving average price of $68.25. National Grid Transco, PLC has a one year low of $55.82 and a one year high of $74.82. The company has a current ratio of 1.35, a quick ratio of 1.30 and a debt-to-equity ratio of 1.13. The firm has a market capitalization of $70.17 billion, a price-to-earnings ratio of 13.77, a P/E/G ratio of 1.59 and a beta of 0.63.

National Grid Transco Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Monday, July 28th. Stockholders of record on Friday, May 30th were paid a $2.0345 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a dividend yield of 470.0%. National Grid Transco's dividend payout ratio is 78.08%.

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.