Raleigh Capital Management Inc. Buys 4,415 Shares of National Grid Transco, PLC (NYSE:NGG)

Raleigh Capital Management Inc. raised its position in National Grid Transco, PLC (NYSE:NGG - Free Report) by 16.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 30,468 shares of the utilities provider's stock after buying an additional 4,415 shares during the period. National Grid Transco accounts for 0.9% of Raleigh Capital Management Inc.'s investment portfolio, making the stock its 26th biggest holding. Raleigh Capital Management Inc.'s holdings in National Grid Transco were worth $1,999,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Raymond James Financial Inc. bought a new stake in National Grid Transco during the fourth quarter worth $67,324,000. FMR LLC raised its stake in shares of National Grid Transco by 11.9% during the 4th 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 period. D. E. Shaw & Co. Inc. boosted its holdings in shares of National Grid Transco by 5,134.3% in the 4th 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 last quarter. Envestnet Asset Management Inc. grew its position in National Grid Transco by 19.9% during the first quarter. Envestnet Asset Management Inc. now owns 1,372,417 shares of the utilities provider's stock valued at $90,044,000 after buying an additional 228,179 shares during the period. Finally, Guardian Partners Inc. bought a new position in National Grid Transco during the fourth quarter valued at about $9,849,000. Hedge funds and other institutional investors own 4.68% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on NGG shares. UBS Group cut shares of National Grid Transco from a "buy" rating to a "neutral" rating in a report on Tuesday, April 29th. BNP Paribas upgraded National Grid Transco from an "outperform" rating to a "strong-buy" rating in a research note on Thursday, May 29th. Citigroup reiterated a "neutral" rating on shares of National Grid Transco in a research report on Tuesday, May 6th. Wall Street Zen lowered shares of National Grid Transco from a "hold" rating to a "sell" rating in a research report on Friday, May 16th. Finally, 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. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $80.40.

National Grid Transco Price Performance

NYSE NGG traded down $0.84 during trading on Monday, reaching $70.85. The company's stock had a trading volume of 674,670 shares, compared to its average volume of 759,928. The firm has a fifty day moving average of $71.98 and a 200 day moving average of $65.94. National Grid Transco, PLC has a one year low of $54.24 and a one year high of $74.58. The stock has a market capitalization of $69.32 billion, a PE ratio of 13.63, a P/E/G ratio of 1.68 and a beta of 0.63. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.35 and a quick ratio of 1.30.

National Grid Transco Cuts Dividend

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