Janney Montgomery Scott LLC Buys 5,098 Shares of National Grid Transco, PLC (NYSE:NGG)

Janney Montgomery Scott LLC lifted its stake in National Grid Transco, PLC (NYSE:NGG - Free Report) by 5.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 95,318 shares of the utilities provider's stock after buying an additional 5,098 shares during the quarter. Janney Montgomery Scott LLC's holdings in National Grid Transco were worth $6,254,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. FMR LLC lifted its holdings in shares of National Grid Transco by 11.9% in the fourth quarter. FMR LLC now owns 4,462,898 shares of the utilities provider's stock worth $265,185,000 after buying an additional 473,172 shares in the last quarter. JPMorgan Chase & Co. increased its position in National Grid Transco by 5.1% in the fourth quarter. JPMorgan Chase & Co. now owns 1,405,185 shares of the utilities provider's stock worth $83,496,000 after purchasing an additional 68,587 shares during the last quarter. Raymond James Financial Inc. bought a new stake in National Grid Transco in the fourth quarter worth $67,324,000. Merewether Investment Management LP increased its position in National Grid Transco by 10.3% in the fourth quarter. Merewether Investment Management LP now owns 1,053,461 shares of the utilities provider's stock worth $62,597,000 after purchasing an additional 98,461 shares during the last quarter. Finally, LPL Financial LLC increased its position in National Grid Transco by 3.3% in the fourth quarter. LPL Financial LLC now owns 781,572 shares of the utilities provider's stock worth $46,441,000 after purchasing an additional 25,082 shares during the last quarter. Hedge funds and other institutional investors own 4.68% of the company's stock.

National Grid Transco Trading Down 0.3%

NGG stock traded down $0.22 during mid-day trading on Friday, reaching $70.80. 1,239,506 shares of the stock traded hands, compared to its average volume of 760,472. 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, PLC has a one year low of $53.65 and a one year high of $73.03. The stock has a market capitalization of $69.28 billion, a PE ratio of 13.62, a PEG ratio of 6.13 and a beta of 0.63. The business has a 50-day moving average price of $71.76 and a two-hundred day moving average price of $65.00.

National Grid Transco Cuts Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Monday, July 28th. Shareholders of record on Friday, May 30th will be given a dividend of $2.0345 per share. This represents a yield of 4.7%. The ex-dividend date is Friday, May 30th. National Grid Transco's dividend payout ratio (DPR) is 78.27%.

Wall Street Analyst Weigh In

NGG has been the topic of several research reports. Royal Bank Of Canada cut shares of National Grid Transco from an "outperform" rating to a "sector perform" rating in a research report on Wednesday, May 28th. UBS Group cut shares of National Grid Transco from a "buy" rating to a "neutral" rating in a research report on Tuesday, April 29th. BNP Paribas Exane initiated coverage on shares of National Grid Transco in a research report on Thursday, May 29th. They issued an "outperform" rating and a $80.40 price target on the stock. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of National Grid Transco in a research report on Wednesday, May 21st. Finally, Barclays restated an "overweight" rating on shares of National Grid Transco in a research report on Friday, May 16th. One equities 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, National Grid Transco currently has a consensus rating of "Moderate Buy" and an average target price 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.