QRG Capital Management Inc. Trims Position in National Grid Transco, PLC (NYSE:NGG)

QRG Capital Management Inc. lowered its position in National Grid Transco, PLC (NYSE:NGG - Free Report) by 8.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,441 shares of the utilities provider's stock after selling 5,286 shares during the quarter. QRG Capital Management Inc.'s holdings in National Grid Transco were worth $3,638,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NGG. Raymond James Financial Inc. bought a new position in shares of National Grid Transco during the 4th quarter worth approximately $67,324,000. FMR LLC lifted its holdings in National Grid Transco by 11.9% during the 4th quarter. FMR LLC now owns 4,462,898 shares of the utilities provider's stock valued at $265,185,000 after purchasing an additional 473,172 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in National Grid Transco by 5,134.3% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 330,706 shares of the utilities provider's stock valued at $19,651,000 after purchasing an additional 324,388 shares during the last quarter. Guardian Partners Inc. bought a new position in National Grid Transco during the 4th quarter valued at about $9,849,000. Finally, Northern Trust Corp raised its stake in shares of National Grid Transco by 27.9% in the fourth quarter. Northern Trust Corp now owns 631,574 shares of the utilities provider's stock valued at $37,528,000 after acquiring an additional 137,673 shares during the last quarter. 4.68% of the stock is owned by institutional investors.

National Grid Transco Stock Down 0.3%

NYSE:NGG traded down $0.22 on Friday, hitting $70.80. The stock had a trading volume of 1,239,506 shares, compared to its average volume of 760,472. National Grid Transco, PLC has a 1 year low of $53.65 and a 1 year high of $73.03. The stock has a market cap of $69.28 billion, a P/E ratio of 13.62, a price-to-earnings-growth ratio of 6.13 and a beta of 0.63. The firm's fifty day simple moving average is $71.76 and its two-hundred day simple moving average is $64.98. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.30 and a current ratio of 1.35.

National Grid Transco Cuts Dividend

The company also recently declared a semi-annual dividend, which will be paid on Monday, July 28th. Stockholders of record on Friday, May 30th will be given a dividend of $2.0345 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a dividend yield of 4.7%. National Grid Transco's dividend payout ratio (DPR) is currently 78.27%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NGG. Citigroup reiterated a "neutral" rating on shares of National Grid Transco in a research report on Tuesday, May 6th. Royal Bank Of Canada cut National Grid Transco from an "outperform" rating to a "sector perform" rating in a report on Wednesday, May 28th. Wall Street Zen downgraded shares of National Grid Transco from a "hold" rating to a "sell" rating in a research note on Friday, May 16th. Barclays reissued an "overweight" rating on shares of National Grid Transco in a research note on Friday, May 16th. Finally, UBS Group cut shares of National Grid Transco from a "buy" rating to a "neutral" rating in a research note on Tuesday, April 29th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price 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.