DAVENPORT & Co LLC raised its stake in National Grid Transco, PLC (NYSE:NGG - Free Report) by 27.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 81,497 shares of the utilities provider's stock after purchasing an additional 17,774 shares during the period. DAVENPORT & Co LLC's holdings in National Grid Transco were worth $5,347,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also added to or reduced their stakes in the company. Oppenheimer & Co. Inc. boosted its holdings in shares of National Grid Transco by 24.2% in the 4th quarter. Oppenheimer & Co. Inc. now owns 4,455 shares of the utilities provider's stock valued at $265,000 after buying an additional 868 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in National Grid Transco by 5.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 65,013 shares of the utilities provider's stock valued at $3,863,000 after acquiring an additional 3,186 shares during the last quarter. IFP Advisors Inc boosted its stake in National Grid Transco by 20.0% in the fourth quarter. IFP Advisors Inc now owns 1,043 shares of the utilities provider's stock valued at $62,000 after acquiring an additional 174 shares in the last quarter. Kingswood Wealth Advisors LLC grew its holdings in National Grid Transco by 25.5% in the first quarter. Kingswood Wealth Advisors LLC now owns 6,056 shares of the utilities provider's stock worth $398,000 after purchasing an additional 1,231 shares during the last quarter. Finally, Two Sigma Investments LP increased its position in shares of National Grid Transco by 8.9% during the fourth quarter. Two Sigma Investments LP now owns 5,100 shares of the utilities provider's stock worth $303,000 after purchasing an additional 417 shares in the last quarter. 4.68% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of research firms have recently weighed in on NGG. BNP Paribas Exane initiated coverage on National Grid Transco in a research report on Thursday, May 29th. They issued an "outperform" rating and a $80.40 price objective for the company. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of National Grid Transco in a report on Wednesday, May 21st. Royal Bank Of Canada downgraded shares of National Grid Transco from an "outperform" rating to a "sector perform" rating in a report on Wednesday, May 28th. Barclays reiterated an "overweight" rating on shares of National Grid Transco in a research note on Friday, May 16th. Finally, Wall Street Zen downgraded shares of National Grid Transco from a "hold" rating to a "sell" rating 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 given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, National Grid Transco presently has a consensus rating of "Moderate Buy" and a consensus target price of $80.40.
Get Our Latest Stock Report on NGG
National Grid Transco Stock Performance
Shares of NYSE:NGG traded up $1.06 during trading on Friday, hitting $71.67. The stock had a trading volume of 808,722 shares, compared to its average volume of 763,153. 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 $54.24 and a 12-month high of $74.58. The stock has a market capitalization of $70.12 billion, a price-to-earnings ratio of 13.78, a price-to-earnings-growth ratio of 1.68 and a beta of 0.63. The stock has a 50-day simple moving average of $71.98 and a two-hundred day simple moving average of $65.82.
National Grid Transco Cuts Dividend
The firm also recently declared 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 of this dividend is Friday, May 30th. National Grid Transco's dividend payout ratio is presently 78.27%.
About National Grid Transco
(
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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