Envestnet Asset Management Inc. Acquires 228,179 Shares of National Grid Transco, PLC (NYSE:NGG)

Envestnet Asset Management Inc. raised its holdings in shares of National Grid Transco, PLC (NYSE:NGG - Free Report) by 19.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,372,417 shares of the utilities provider's stock after acquiring an additional 228,179 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.14% of National Grid Transco worth $90,044,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. FMR LLC boosted its stake in shares of National Grid Transco by 11.9% during the 4th quarter. FMR LLC now owns 4,462,898 shares of the utilities provider's stock worth $265,185,000 after acquiring an additional 473,172 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of National Grid Transco by 5.1% during the 4th quarter. JPMorgan Chase & Co. now owns 1,405,185 shares of the utilities provider's stock valued at $83,496,000 after purchasing an additional 68,587 shares during the period. Merewether Investment Management LP raised its position in shares of National Grid Transco by 10.3% during the 4th quarter. Merewether Investment Management LP now owns 1,053,461 shares of the utilities provider's stock valued at $62,597,000 after purchasing an additional 98,461 shares during the period. LPL Financial LLC raised its position in shares of National Grid Transco by 3.3% during the 4th quarter. LPL Financial LLC now owns 781,572 shares of the utilities provider's stock valued at $46,441,000 after purchasing an additional 25,082 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of National Grid Transco by 1.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 706,290 shares of the utilities provider's stock valued at $41,968,000 after purchasing an additional 12,228 shares during the period. Hedge funds and other institutional investors own 4.68% of the company's stock.

National Grid Transco Price Performance

Shares of National Grid Transco stock traded up $0.94 during trading hours on Monday, reaching $71.13. The company's stock had a trading volume of 734,117 shares, compared to its average volume of 756,524. The firm has a 50 day moving average price of $71.79 and a 200-day moving average price of $66.35. National Grid Transco, PLC has a one year low of $54.24 and a one year 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 has a market cap of $69.59 billion, a P/E ratio of 13.68, a P/E/G ratio of 1.59 and a beta of 0.63.

National Grid Transco Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Monday, July 28th. Stockholders of record on Friday, May 30th will be issued a $2.0345 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a dividend yield of 4.7%. National Grid Transco's dividend payout ratio (DPR) is presently 78.08%.

Analyst Ratings Changes

NGG has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of National Grid Transco in a research report on Wednesday, May 21st. Barclays restated an "overweight" rating on shares of National Grid Transco in a research report on Friday, May 16th. Citigroup restated a "neutral" rating on shares of National Grid Transco in a research report on Tuesday, May 6th. Royal Bank Of Canada downgraded shares of National Grid Transco from an "outperform" rating to a "sector perform" rating in a report on Wednesday, May 28th. Finally, BNP Paribas Exane started coverage on shares of National Grid Transco in a report on Thursday, May 29th. They issued an "outperform" rating and a $80.40 price target on the stock. One investment 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. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $80.40.

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.