Nuveen LLC Makes New Investment in 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 position in National Grid Transco, PLC (NYSE:NGG - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 487,957 shares of the utilities provider's stock, valued at approximately $32,015,000.

A number of other large investors also recently added to or reduced their stakes in NGG. Rockefeller Capital Management L.P. purchased a new position in National Grid Transco in the 4th quarter worth approximately $651,000. Guggenheim Capital LLC lifted its holdings in National Grid Transco by 377.5% in the 4th quarter. Guggenheim Capital LLC now owns 16,641 shares of the utilities provider's stock worth $989,000 after purchasing an additional 13,156 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in National Grid Transco by 6.0% in the 4th quarter. NewEdge Advisors LLC now owns 7,796 shares of the utilities provider's stock worth $463,000 after purchasing an additional 440 shares in the last quarter. First Trust Advisors LP purchased a new position in National Grid Transco in the 4th quarter worth approximately $1,023,000. Finally, Dimensional Fund Advisors LP lifted its holdings in National Grid Transco by 1.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 706,290 shares of the utilities provider's stock worth $41,968,000 after purchasing an additional 12,228 shares in the last quarter. 4.68% of the stock is owned by hedge funds and other institutional investors.

National Grid Transco Trading Up 0.2%

Shares of NYSE NGG traded up $0.1690 during trading hours on Friday, hitting $71.5990. 158,797 shares of the company traded hands, compared to its average volume of 877,338. The stock has a market capitalization of $71.04 billion, a price-to-earnings ratio of 13.78, a price-to-earnings-growth ratio of 1.63 and a beta of 0.63. 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 company's 50 day moving average price is $71.70 and its 200 day moving average price is $68.66. National Grid Transco, PLC has a 12 month low of $55.82 and a 12 month high of $74.82.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on NGG shares. UBS Group cut National Grid Transco from a "buy" rating to a "neutral" rating in a report on Tuesday, April 29th. Citigroup reaffirmed a "neutral" rating on shares of National Grid Transco in a report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of National Grid Transco in a report on Wednesday, May 21st. BNP Paribas raised National Grid Transco from an "outperform" rating to a "strong-buy" rating in a report on Thursday, May 29th. Finally, Barclays reaffirmed an "overweight" rating on shares of National Grid Transco in a report on Friday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $80.40.

About National Grid Transco

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.