National Bank of Canada FI Sells 4,283 Shares of National Grid Transco, PLC (NYSE:NGG)

National Bank of Canada FI lowered its holdings in National Grid Transco, PLC (NYSE:NGG - Free Report) by 2.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 148,900 shares of the utilities provider's stock after selling 4,283 shares during the period. National Bank of Canada FI's holdings in National Grid Transco were worth $9,768,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Golden State Wealth Management LLC acquired a new position in National Grid Transco during the first quarter worth $28,000. SJS Investment Consulting Inc. acquired a new position in National Grid Transco during the first quarter worth $29,000. Sound Income Strategies LLC increased its position in 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. Bessemer Group Inc. increased its position in National Grid Transco by 216.8% during the first quarter. Bessemer Group Inc. now owns 960 shares of the utilities provider's stock worth $62,000 after buying an additional 657 shares during the last quarter. Finally, TruNorth Capital Management LLC acquired a new position in National Grid Transco during the first quarter worth $71,000. Hedge funds and other institutional investors own 4.68% of the company's stock.

Analyst Ratings Changes

NGG has been the topic of several analyst reports. Barclays reissued an "overweight" rating on shares of National Grid Transco in a research report on Friday, May 16th. Wall Street Zen cut shares of National Grid Transco from a "hold" rating to a "sell" rating in a report on Friday, May 16th. BNP Paribas Exane started coverage on shares of National Grid Transco in a report on Thursday, May 29th. They set an "outperform" rating and a $80.40 price target for the company. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of National Grid Transco in a report on Wednesday, May 21st. Finally, UBS Group cut shares of National Grid Transco from a "buy" rating to a "neutral" rating in a report on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, National Grid Transco currently has an average rating of "Moderate Buy" and an average price target of $80.40.

National Grid Transco Price Performance

Shares of National Grid Transco stock traded down $0.16 during midday trading on Friday, reaching $71.40. The company had a trading volume of 547,749 shares, compared to its average volume of 790,109. National Grid Transco, PLC has a 1-year low of $55.82 and a 1-year high of $74.82. The company has a market capitalization of $70.00 billion, a price-to-earnings ratio of 13.73, a price-to-earnings-growth ratio of 1.62 and a beta of 0.63. 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 stock has a fifty day simple moving average of $71.73 and a 200 day simple moving average of $68.44.

National Grid Transco Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Monday, July 28th. Shareholders 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 yield of 470.0%. National Grid Transco's dividend payout ratio (DPR) is presently 78.27%.

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.