LPL Financial LLC Grows Stake in National Grid Transco, PLC (NYSE:NGG)

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 lifted its stake in National Grid Transco, PLC (NYSE:NGG - Free Report) by 13.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 883,960 shares of the utilities provider's stock after buying an additional 102,388 shares during the period. LPL Financial LLC owned approximately 0.09% of National Grid Transco worth $57,997,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of NGG. Golden State Wealth Management LLC purchased a new position in National Grid Transco in the 1st quarter worth approximately $28,000. Cambridge Investment Research Advisors Inc. boosted its stake in shares of 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 valued at $907,000 after purchasing an additional 500 shares during the period. Kingswood Wealth Advisors LLC grew its holdings in National Grid Transco by 25.5% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 6,056 shares of the utilities provider's stock valued at $398,000 after purchasing an additional 1,231 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in National Grid Transco by 97.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 9,481 shares of the utilities provider's stock valued at $624,000 after purchasing an additional 4,675 shares in the last quarter. Finally, Two Sigma Investments LP increased its stake in National Grid Transco by 8.9% during the 4th quarter. Two Sigma Investments LP now owns 5,100 shares of the utilities provider's stock worth $303,000 after buying an additional 417 shares during the period. Institutional investors and hedge funds own 4.68% of the company's stock.

National Grid Transco Trading Up 0.2%

NYSE:NGG opened at $70.36 on Friday. The company has a market cap of $68.98 billion, a PE ratio of 13.53, a P/E/G ratio of 1.59 and a beta of 0.63. The business's 50 day moving average is $71.93 and its two-hundred day moving average is $67.49. 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, PLC has a 52 week low of $55.82 and a 52 week high of $74.82.

National Grid Transco Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Monday, July 28th. Investors of record on Friday, May 30th were paid a dividend of $2.0345 per share. The ex-dividend date was Friday, May 30th. This represents a yield of 470.0%. National Grid Transco's dividend payout ratio (DPR) is 78.27%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of National Grid Transco in a research note on Wednesday, May 21st. Royal Bank Of Canada downgraded National Grid Transco from an "outperform" rating to a "sector perform" rating in a report on Wednesday, May 28th. Citigroup reiterated a "neutral" rating on shares of National Grid Transco in a research note on Tuesday, May 6th. Barclays reissued an "overweight" rating on shares of National Grid Transco in a research report on Friday, May 16th. Finally, BNP Paribas raised shares of National Grid Transco from an "outperform" rating to a "strong-buy" rating in a report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, National Grid Transco has a consensus rating of "Moderate Buy" and an average 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.

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