Bleakley Financial Group LLC Buys 4,027 Shares of National Grid Transco, PLC (NYSE:NGG)

Bleakley Financial Group LLC increased its position in shares of National Grid Transco, PLC (NYSE:NGG - Free Report) by 45.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,923 shares of the utilities provider's stock after purchasing an additional 4,027 shares during the quarter. Bleakley Financial Group LLC's holdings in National Grid Transco were worth $848,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NGG. Golden State Wealth Management LLC bought a new position in shares of National Grid Transco in the 1st quarter worth $28,000. Brown Brothers Harriman & Co. grew its holdings in National Grid Transco by 67.6% in the 4th quarter. Brown Brothers Harriman & Co. now owns 491 shares of the utilities provider's stock worth $29,000 after acquiring an additional 198 shares during the last quarter. SJS Investment Consulting Inc. bought a new stake in National Grid Transco in the 1st quarter worth $29,000. Mitsubishi UFJ Trust & Banking Corp bought a new stake in National Grid Transco in the 4th quarter worth $53,000. Finally, Sound Income Strategies LLC lifted its position in shares of National Grid Transco by 197.3% in the 1st quarter. Sound Income Strategies LLC now owns 877 shares of the utilities provider's stock worth $58,000 after purchasing an additional 582 shares during the period. 4.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NGG has been the subject of several recent analyst reports. Citigroup reaffirmed a "neutral" rating on shares of National Grid Transco in a report on Tuesday, May 6th. UBS Group lowered shares of National Grid Transco from a "buy" rating to a "neutral" rating in a research note on Tuesday, April 29th. Barclays restated an "overweight" rating on shares of National Grid Transco in a research report on Friday, May 16th. Wall Street Zen lowered shares of National Grid Transco from a "hold" rating to a "sell" rating in a research report on Friday, May 16th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of National Grid Transco in a research report on Wednesday, May 21st. One 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 company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $80.40.

National Grid Transco Price Performance

NYSE:NGG traded up $0.40 during trading hours on Friday, hitting $71.57. 663,737 shares of the stock traded hands, compared to its average volume of 756,941. 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 1 year low of $54.24 and a 1 year high of $74.58. The company has a market cap of $70.03 billion, a price-to-earnings ratio of 13.76, a price-to-earnings-growth ratio of 1.60 and a beta of 0.63. The stock has a 50 day moving average price of $71.74 and a 200 day moving average price of $66.58.

National Grid Transco Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Monday, July 28th. Stockholders of record on Friday, May 30th will be issued a $2.0345 dividend. This represents a dividend yield of 4.7%. The ex-dividend date of this dividend is Friday, May 30th. 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.