Federated Hermes Inc. Acquires 1,041,918 Shares of National Grid Transco, PLC (NYSE:NGG)

Key Points

• Federated Hermes Inc. increased its stake in National Grid Transco, purchasing over 1 million shares, boosting its holdings by 49.8% and now owning approximately 0.32% of the company, valued at about $205.6 million.
• Various institutional investors have also shown interest in National Grid Transco, with notable activities including a 67.6% increase in holdings by Brown Brothers Harriman & Co. and new positions taken by Golden State Wealth Management and others.
• Analysts have mixed ratings on National Grid Transco, with one sell rating, three holds, four buys, and one strong buy, alongside a consensus price target of $80.40.

Federated Hermes Inc. increased its stake in National Grid Transco, PLC (NYSE:NGG - Free Report) by 49.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,133,548 shares of the utilities provider's stock after purchasing an additional 1,041,918 shares during the quarter. Federated Hermes Inc. owned approximately 0.32% of National Grid Transco worth $205,592,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Golden State Wealth Management LLC acquired a new stake in shares of National Grid Transco during the 1st quarter valued at about $28,000. Brown Brothers Harriman & Co. lifted its holdings in shares of National Grid Transco by 67.6% during the fourth quarter. Brown Brothers Harriman & Co. now owns 491 shares of the utilities provider's stock worth $29,000 after buying an additional 198 shares during the last quarter. SJS Investment Consulting Inc. acquired a new position in shares of National Grid Transco during the first quarter worth approximately $29,000. Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of National Grid Transco during the fourth quarter worth approximately $53,000. Finally, Sound Income Strategies LLC lifted its holdings in shares of National Grid Transco by 197.3% during the first quarter. Sound Income Strategies LLC now owns 877 shares of the utilities provider's stock worth $58,000 after buying an additional 582 shares during the last quarter. Hedge funds and other institutional investors own 4.68% of the company's stock.

National Grid Transco Price Performance

National Grid Transco stock traded up $1.33 during mid-day trading on Friday, hitting $71.72. 714,945 shares of the company were exchanged, compared to its average volume of 910,440. The company has a market capitalization of $70.30 billion, a PE ratio of 13.79, a price-to-earnings-growth ratio of 1.59 and a beta of 0.63. The business has a fifty day moving average of $71.93 and a 200 day moving average of $67.49. National Grid Transco, PLC has a 1-year low of $55.82 and a 1-year high of $74.82. The company has a quick ratio of 1.30, a current ratio of 1.35 and a debt-to-equity ratio of 1.13.

National Grid Transco Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Monday, July 28th. Stockholders of record on Friday, May 30th were issued 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 presently 78.27%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Wall Street Zen lowered National Grid Transco from a "hold" rating to a "sell" rating in a report on Friday, May 16th. BNP Paribas upgraded National Grid Transco from an "outperform" rating to a "strong-buy" rating in a report on Thursday, May 29th. BNP Paribas Exane assumed coverage on National Grid Transco in a report on Thursday, May 29th. They set an "outperform" rating and a $80.40 price target for the company. Royal Bank Of Canada lowered National Grid Transco from an "outperform" rating to a "sector perform" rating in a report on Wednesday, May 28th. Finally, Barclays restated an "overweight" rating on shares of National Grid Transco in a research report on Friday, May 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, National Grid Transco presently has a consensus 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.