Sagespring Wealth Partners LLC Invests $268,000 in National Grid Transco, PLC (NYSE:NGG)

Sagespring Wealth Partners LLC acquired a new position in National Grid Transco, PLC (NYSE:NGG - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 4,084 shares of the utilities provider's stock, valued at approximately $268,000.

A number of other hedge funds also recently bought and sold shares of the company. Oppenheimer & Co. Inc. raised its holdings in National Grid Transco by 24.2% in the 4th quarter. Oppenheimer & Co. Inc. now owns 4,455 shares of the utilities provider's stock worth $265,000 after purchasing an additional 868 shares during the period. Atria Wealth Solutions Inc. purchased a new stake in National Grid Transco in the fourth quarter worth about $239,000. Charles Schwab Investment Management Inc. lifted its position in shares of National Grid Transco by 5.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 65,013 shares of the utilities provider's stock valued at $3,863,000 after buying an additional 3,186 shares in the last quarter. IFP Advisors Inc grew its stake in shares of National Grid Transco by 20.0% during the 4th quarter. IFP Advisors Inc now owns 1,043 shares of the utilities provider's stock valued at $62,000 after acquiring an additional 174 shares during the period. Finally, Two Sigma Investments LP increased its holdings in National Grid Transco by 8.9% in the 4th quarter. Two Sigma Investments LP now owns 5,100 shares of the utilities provider's stock worth $303,000 after acquiring an additional 417 shares in the last quarter. Hedge funds and other institutional investors own 4.68% of the company's stock.

National Grid Transco Price Performance

NGG traded up $2.51 during trading on Monday, hitting $73.37. 1,291,495 shares of the company traded hands, compared to its average volume of 762,596. 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 has a market cap of $71.79 billion, a PE ratio of 14.11, a P/E/G ratio of 6.13 and a beta of 0.63. The stock's 50-day simple moving average is $71.76 and its two-hundred day simple moving average is $65.00. National Grid Transco, PLC has a 1 year low of $53.65 and a 1 year high of $73.82.

National Grid Transco Cuts Dividend

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

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. 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. Wall Street Zen downgraded shares of National Grid Transco from a "hold" rating to a "sell" rating in a report on Friday, May 16th. BNP Paribas Exane initiated coverage on National Grid Transco in a report on Thursday, May 29th. They set an "outperform" rating and a $80.40 price target on the stock. Citigroup restated a "neutral" rating on shares of National Grid Transco in a research report on Tuesday, May 6th. Finally, Sanford C. Bernstein upgraded National Grid Transco from a "market perform" rating to an "outperform" rating in a research report on Monday, March 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average 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.