National Grid Transco, PLC (NYSE:NGG) Shares Sold by GQG Partners LLC

Key Points

• GQG Partners LLC significantly reduced its holdings in National Grid Transco, cutting its stake by 77.6% during the first quarter, now owning just 4,005 shares worth $263,000.
• Several institutional investors have increased their stakes, with firms like Bessemer Group Inc. and Sound Income Strategies LLC boosting their ownership by over 200% during the same period.
• National Grid Transco's stock is currently rated as a "Moderate Buy" with a consensus target price of $80.40, despite facing a recent downgrade to a "sell" rating from Wall Street Zen.

GQG Partners LLC decreased its holdings in shares of National Grid Transco, PLC (NYSE:NGG - Free Report) by 77.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,005 shares of the utilities provider's stock after selling 13,858 shares during the period. GQG Partners LLC's holdings in National Grid Transco were worth $263,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NGG. Golden State Wealth Management LLC acquired a new position in National Grid Transco during the 1st quarter worth approximately $28,000. SJS Investment Consulting Inc. acquired a new position in National Grid Transco during the 1st quarter worth approximately $29,000. Sound Income Strategies LLC increased its position in National Grid Transco by 197.3% during 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. Bessemer Group Inc. increased its position in National Grid Transco by 216.8% during the 1st quarter. Bessemer Group Inc. now owns 960 shares of the utilities provider's stock worth $62,000 after purchasing an additional 657 shares during the period. Finally, TruNorth Capital Management LLC acquired a new position in National Grid Transco during the 1st quarter worth approximately $71,000. Institutional investors and hedge funds own 4.68% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Barclays reissued an "overweight" rating on shares of National Grid Transco in a research note on Friday, May 16th. Wall Street Zen lowered National Grid Transco from a "hold" rating to a "sell" rating in a research note on Friday, May 16th. Citigroup reissued a "neutral" rating on shares of National Grid Transco in a research note on Tuesday, May 6th. BNP Paribas raised National Grid Transco from an "outperform" rating to a "strong-buy" rating in a research note on Thursday, May 29th. Finally, BNP Paribas Exane began coverage on National Grid Transco in a research note on Thursday, May 29th. They set an "outperform" rating and a $80.40 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has assigned 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.

National Grid Transco Trading Down 1.3%

Shares of NGG stock opened at $70.30 on Wednesday. The stock has a market cap of $68.92 billion, a price-to-earnings ratio of 13.52, a price-to-earnings-growth ratio of 1.61 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 fifty-two week low of $55.82 and a fifty-two week high of $74.82. The firm's 50 day moving average price is $71.72 and its two-hundred day moving average price is $68.23.

National Grid Transco Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Monday, July 28th. Investors of record on Friday, May 30th were issued a $2.0345 dividend. This represents a yield of 470.0%. The ex-dividend date was Friday, May 30th. National Grid Transco's dividend payout ratio is currently 78.27%.

National Grid Transco Company 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.

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