Janney Montgomery Scott LLC Increases Holdings in National Grid Transco, PLC (NYSE:NGG)

Janney Montgomery Scott LLC boosted its holdings in shares of National Grid Transco, PLC (NYSE:NGG - Free Report) by 5.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 95,318 shares of the utilities provider's stock after acquiring an additional 5,098 shares during the period. 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 institutional investors and hedge funds also recently modified their holdings of NGG. Whipplewood Advisors LLC purchased a new position in National Grid Transco in the 4th quarter valued at about $25,000. Brown Brothers Harriman & Co. lifted its stake 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 valued at $29,000 after buying an additional 198 shares during the period. SJS Investment Consulting Inc. acquired a new stake in National Grid Transco during the first quarter worth approximately $29,000. Larson Financial Group LLC boosted its position in National Grid Transco by 145.6% during the fourth quarter. Larson Financial Group LLC now owns 700 shares of the utilities provider's stock worth $42,000 after acquiring an additional 415 shares during the last quarter. Finally, Rothschild Investment LLC grew its stake in National Grid Transco by 36.2% in the 4th quarter. Rothschild Investment LLC now owns 723 shares of the utilities provider's stock worth $43,000 after acquiring an additional 192 shares during the period. Hedge funds and other institutional investors own 4.68% of the company's stock.

National Grid Transco Trading Down 0.1%

National Grid Transco stock traded down $0.04 during midday trading on Wednesday, reaching $73.21. The stock had a trading volume of 852,402 shares, compared to its average volume of 760,269. The stock's 50-day simple moving average is $71.88 and its 200 day simple moving average is $65.14. National Grid Transco, PLC has a twelve month low of $53.65 and a twelve month high of $73.77. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.30 and a current ratio of 1.35. The stock has a market capitalization of $71.63 billion, a PE ratio of 14.08, a price-to-earnings-growth ratio of 6.34 and a beta of 0.63.

National Grid Transco Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Barclays reissued an "overweight" rating on shares of National Grid Transco in a research note on Friday, May 16th. 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. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of National Grid Transco in a report on Wednesday, May 21st. BNP Paribas Exane started coverage on shares of National Grid Transco in a research note on Thursday, May 29th. They set an "outperform" rating and a $80.40 price objective for the company. Finally, Citigroup reissued a "neutral" rating on shares of National Grid Transco in a research report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price 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.