National Grid Transco, PLC (NYSE:NGG) Shares Acquired by LPL Financial LLC

Key Points

• LPL Financial LLC increased its stake in National Grid Transco by 13.1%, owning approximately 0.09% of the company, valued at nearly $58 million after purchasing an additional 102,388 shares during the first quarter.
• National Grid Transco recently cut its dividend, declaring a semi-annual dividend that yields 470.0% with a dividend payout ratio of 78.27%.
• Wall Street analysts have mixed opinions on National Grid Transco, with ratings ranging from sell to strong buy, resulting in a consensus rating of "Moderate Buy" and an average price target of $80.40.

LPL Financial LLC grew its holdings in National Grid Transco, PLC (NYSE:NGG - Free Report) by 13.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 883,960 shares of the utilities provider's stock after purchasing an additional 102,388 shares during the period. LPL Financial LLC owned about 0.09% of National Grid Transco worth $57,997,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Golden State Wealth Management LLC purchased a new stake in National Grid Transco in the first quarter worth $28,000. Cambridge Investment Research Advisors Inc. increased its stake in National Grid Transco by 3.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 13,826 shares of the utilities provider's stock worth $907,000 after purchasing an additional 500 shares during the period. Kingswood Wealth Advisors LLC increased its stake in National Grid Transco by 25.5% in the first quarter. Kingswood Wealth Advisors LLC now owns 6,056 shares of the utilities provider's stock worth $398,000 after purchasing an additional 1,231 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of National Grid Transco by 97.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 9,481 shares of the utilities provider's stock valued at $624,000 after buying an additional 4,675 shares during the period. Finally, Two Sigma Investments LP increased its stake in shares of National Grid Transco by 8.9% during the fourth quarter. Two Sigma Investments LP now owns 5,100 shares of the utilities provider's stock valued at $303,000 after buying an additional 417 shares during the period. Hedge funds and other institutional investors own 4.68% of the company's stock.

National Grid Transco Stock Down 0.3%

NGG stock traded down $0.21 during trading on Tuesday, reaching $72.45. 254,912 shares of the company traded hands, compared to its average volume of 905,954. National Grid Transco, PLC has a 12 month low of $55.82 and a 12 month high of $74.82. The business has a 50 day simple moving average of $71.82 and a 200 day simple moving average of $67.82. The company has a market capitalization of $71.02 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth ratio of 1.62 and a beta of 0.63. 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 Cuts Dividend

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

Wall Street Analyst Weigh In

NGG has been the topic of several research reports. BNP Paribas upgraded National Grid Transco from an "outperform" rating to a "strong-buy" rating in a research note on Thursday, May 29th. Royal Bank Of Canada lowered National Grid Transco from an "outperform" rating to a "sector perform" rating in a research note on Wednesday, May 28th. Barclays restated an "overweight" rating on shares of National Grid Transco in a research note on Friday, May 16th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of National Grid Transco in a research note on Wednesday, May 21st. Finally, Citigroup reaffirmed a "neutral" rating on shares of National Grid Transco in a research report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $80.40.

About National Grid Transco

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.