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

QRG Capital Management Inc. reduced its position in National Grid Transco, PLC (NYSE:NGG - Free Report) by 8.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Sanford C. Bernstein raised shares of National Grid Transco from a "market perform" rating to an "outperform" rating in a report on Monday, March 17th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of National Grid Transco in a report on Wednesday, May 21st. Royal Bank Of Canada lowered shares of National Grid Transco from an "outperform" rating to a "sector perform" rating in a report on Wednesday, May 28th. Wall Street Zen lowered shares of National Grid Transco from a "hold" rating to a "sell" rating in a report on Friday, May 16th. Finally, UBS Group lowered shares of National Grid Transco from a "buy" rating to a "neutral" rating in a report on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, National Grid Transco presently has a consensus rating of "Moderate Buy" and an average price target of $80.40.

National Grid Transco Price Performance

NYSE:NGG opened at $71.00 on Thursday. National Grid Transco, PLC has a one year low of $53.65 and a one year high of $73.03. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.30 and a current ratio of 1.35. The firm has a market cap of $69.47 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 6.20 and a beta of 0.63. The firm's fifty day moving average is $71.60 and its two-hundred day moving average is $64.86.

National Grid Transco Cuts Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Monday, July 28th. Shareholders of record on Friday, May 30th will be given a $2.0345 dividend. 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%.

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.

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