Cetera Investment Advisers Increases Stake in National Grid Transco, PLC (NYSE:NGG)

Key Points

• Cetera Investment Advisers increased its stake in National Grid Transco, PLC by 23.6% during Q1, holding 118,366 shares valued at approximately $7.77 million.
• National Grid Transco recently paid a semi-annual dividend of $2.0345 per share, yielding 470.0%, with a payout ratio currently at 78.27%.
• Analysts have a mixed outlook on the stock, with ratings ranging from sell to strong buy, while the average price target is set at $80.40.

Cetera Investment Advisers grew its position in National Grid Transco, PLC (NYSE:NGG - Free Report) by 23.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 118,366 shares of the utilities provider's stock after purchasing an additional 22,563 shares during the quarter. Cetera Investment Advisers' holdings in National Grid Transco were worth $7,766,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of NGG. Golden State Wealth Management LLC bought a new position in shares of National Grid Transco in the first quarter worth approximately $28,000. Brown Brothers Harriman & Co. lifted its holdings in shares of National Grid Transco by 67.6% in the fourth quarter. Brown Brothers Harriman & Co. now owns 491 shares of the utilities provider's stock worth $29,000 after buying an additional 198 shares in the last quarter. SJS Investment Consulting Inc. purchased a new position in shares of National Grid Transco in the first quarter worth $29,000. Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of National Grid Transco in the fourth quarter worth $53,000. Finally, Sound Income Strategies LLC lifted its holdings in shares of National Grid Transco by 197.3% in 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 in the last quarter. 4.68% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NGG has been the topic of several research analyst reports. BNP Paribas Exane initiated coverage on shares of National Grid Transco in a report on Thursday, May 29th. They issued an "outperform" rating and a $80.40 target price on the stock. BNP Paribas raised shares of National Grid Transco from an "outperform" rating to a "strong-buy" rating in a report on Thursday, May 29th. Wall Street Zen downgraded shares of National Grid Transco from a "hold" rating to a "sell" rating in a report on Friday, May 16th. Citigroup reissued a "neutral" rating on shares of National Grid Transco in a report on Tuesday, May 6th. Finally, UBS Group downgraded 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 given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, National Grid Transco currently has a consensus rating of "Moderate Buy" and a consensus target price of $80.40.

National Grid Transco Price Performance

National Grid Transco stock traded down $0.21 during mid-day trading on Tuesday, reaching $72.45. 254,912 shares of the company's stock traded hands, compared to its average volume of 905,954. The company has a market cap of $71.02 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 1.62 and a beta of 0.63. The stock has a 50 day moving average of $71.82 and a two-hundred day moving average of $67.82. 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 12-month low of $55.82 and a 12-month high of $74.82.

National Grid Transco Cuts Dividend

The firm also recently declared 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 of this dividend was Friday, May 30th. This represents a yield of 470.0%. National Grid Transco's dividend payout ratio is presently 78.08%.

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.