Oppenheimer & Co. Inc. boosted its stake in shares of National Grid Transco, PLC (NYSE:NGG - Free Report) by 122.3% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 9,904 shares of the utilities provider's stock after acquiring an additional 5,449 shares during the period. Oppenheimer & Co. Inc.'s holdings in National Grid Transco were worth $650,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. SJS Investment Consulting Inc. acquired a new stake in shares of National Grid Transco in the first quarter worth approximately $29,000. Brown Brothers Harriman & Co. boosted its stake in National Grid Transco by 67.6% during the 4th quarter. Brown Brothers Harriman & Co. now owns 491 shares of the utilities provider's stock worth $29,000 after purchasing an additional 198 shares during the last quarter. Larson Financial Group LLC grew its holdings in shares of 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 buying an additional 415 shares in the last quarter. Sound Income Strategies LLC raised its position 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 valued at $58,000 after buying an additional 582 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of National Grid Transco in the fourth quarter worth about $53,000. 4.68% of the stock is owned by hedge funds and other institutional investors.
National Grid Transco Trading Down 0.1%
Shares of National Grid Transco stock traded down $0.07 during mid-day trading on Tuesday, hitting $74.34. The stock had a trading volume of 1,535,512 shares, compared to its average volume of 912,177. The firm has a 50-day moving average of $72.02 and a two-hundred day moving average of $65.56. The firm has a market cap of $72.74 billion, a P/E ratio of 14.30, a price-to-earnings-growth ratio of 6.20 and a beta of 0.63. 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 disclosed a semi-annual dividend, which will be paid on Monday, July 28th. Investors of record on Friday, May 30th will be given a $2.0345 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a yield of 4.7%. National Grid Transco's payout ratio is 78.27%.
Analyst Ratings Changes
A number of research firms recently weighed in on NGG. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of National Grid Transco in a research report on Wednesday, May 21st. UBS Group cut National Grid Transco from a "buy" rating to a "neutral" rating in a report on Tuesday, April 29th. BNP Paribas upgraded National Grid Transco from an "outperform" rating to a "strong-buy" rating in a research report on Thursday, May 29th. BNP Paribas Exane assumed coverage on National Grid Transco in a report on Thursday, May 29th. They issued an "outperform" rating and a $80.40 price target for the company. Finally, Wall Street Zen lowered National Grid Transco from a "hold" rating to a "sell" rating in a research note on Friday, May 16th. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, National Grid Transco currently has an average rating of "Moderate Buy" and an average target price of $80.40.
Read Our Latest Stock Analysis on NGG
National Grid Transco Profile
(
Free Report)
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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