Nuveen LLC Buys Shares of 487,957 National Grid Transco, PLC $NGG

Key Points

• Nuveen LLC acquired a new position in National Grid Transco, purchasing 487,957 shares valued at approximately $32.02 million in the first quarter of 2023.
• The company announced a semi-annual dividend of $2.0345, leading to a substantial dividend yield, yet had its dividend payout ratio (DPR) at 78.27%.
• Several analysts have downgraded National Grid Transco's stock ratings, with Royal Bank of Canada changing its stance from "outperform" to "sector perform" and UBS Group from "buy" to "neutral."

Nuveen LLC purchased a new stake in National Grid Transco, PLC (NYSE:NGG - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 487,957 shares of the utilities provider's stock, valued at approximately $32,015,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NGG. Golden State Wealth Management LLC bought a new position in shares of National Grid Transco during the 1st quarter worth about $28,000. SJS Investment Consulting Inc. bought a new position in National Grid Transco during the 1st quarter valued at about $29,000. Sound Income Strategies LLC boosted its position in 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 in the last quarter. Bessemer Group Inc. boosted its position in National Grid Transco by 216.8% in the first quarter. Bessemer Group Inc. now owns 960 shares of the utilities provider's stock valued at $62,000 after buying an additional 657 shares in the last quarter. Finally, TruNorth Capital Management LLC acquired a new position in National Grid Transco in the first quarter valued at about $71,000. 4.68% of the stock is owned by institutional investors.

National Grid Transco Trading Down 0.8%

Shares of NGG traded down $0.5450 on Thursday, reaching $71.5350. 373,973 shares of the company's stock were exchanged, compared to its average volume of 880,870. National Grid Transco, PLC has a 12 month low of $55.82 and a 12 month high of $74.82. The company has a current ratio of 1.35, a quick ratio of 1.30 and a debt-to-equity ratio of 1.13. The stock has a market capitalization of $70.98 billion, a P/E ratio of 13.76, a price-to-earnings-growth ratio of 1.61 and a beta of 0.63. The business has a 50 day moving average price of $71.73 and a two-hundred day moving average price of $68.60.

Analyst Upgrades and Downgrades

NGG has been the topic of a number of recent analyst reports. Royal Bank Of Canada lowered shares of National Grid Transco from an "outperform" rating to a "sector perform" rating in a research report on Wednesday, May 28th. Citigroup restated a "neutral" rating on shares of National Grid Transco in a research report on Tuesday, May 6th. BNP Paribas raised shares of National Grid Transco from an "outperform" rating to a "strong-buy" rating in a research note on Thursday, May 29th. BNP Paribas Exane initiated coverage on shares of National Grid Transco in a research note on Thursday, May 29th. They issued an "outperform" rating and a $80.40 target price for the company. Finally, UBS Group downgraded shares of National Grid Transco from a "buy" rating to a "neutral" rating in a research note on Tuesday, April 29th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $80.40.

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.