Summit Securities Group LLC Acquires New Holdings in National Grid Transco, PLC $NGG

Key Points

• Summit Securities Group LLC acquired 5,142 shares of National Grid Transco, PLC for approximately $337,000, marking a significant investment in the company.
• Multiple institutional investors have also invested in National Grid Transco, increasing overall ownership to 4.68% of the company's stock.
• National Grid Transco declared a semi-annual dividend of $2.0345 per share, resulting in a yield of 470.0% despite a dividend payout ratio of 78.27%.

Summit Securities Group LLC acquired a new stake in National Grid Transco, PLC (NYSE:NGG - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,142 shares of the utilities provider's stock, valued at approximately $337,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Federated Hermes Inc. increased its stake in National Grid Transco by 49.8% during the first quarter. Federated Hermes Inc. now owns 3,133,548 shares of the utilities provider's stock valued at $205,592,000 after acquiring an additional 1,041,918 shares during the period. Nuveen LLC bought a new stake in shares of National Grid Transco during the first quarter valued at approximately $32,015,000. D. E. Shaw & Co. Inc. raised its stake in shares of National Grid Transco by 5,134.3% in the fourth 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 in the last quarter. Raymond James Financial Inc. boosted its stake in National Grid Transco by 22.7% during the first quarter. Raymond James Financial Inc. now owns 1,389,661 shares of the utilities provider's stock worth $91,176,000 after buying an additional 256,645 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake 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 worth $90,044,000 after buying an additional 228,179 shares in the last quarter. Institutional investors and hedge funds own 4.68% of the company's stock.

Analyst Upgrades and Downgrades

NGG has been the subject of a number of analyst reports. UBS Group downgraded shares of National Grid Transco from a "buy" rating to a "neutral" rating in a report on Tuesday, April 29th. Wall Street Zen lowered National Grid Transco from a "hold" rating to a "sell" rating in a research note on Friday, May 16th. Barclays reiterated an "overweight" rating on shares of National Grid Transco in a research note on Friday, May 16th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of National Grid Transco in a research report on Wednesday, May 21st. Finally, BNP Paribas raised shares of National Grid Transco from an "outperform" rating to a "strong-buy" rating in a research note on Thursday, May 29th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $80.40.

National Grid Transco Trading Down 1.0%

Shares of NGG stock traded down $0.7070 during trading hours on Thursday, reaching $71.3730. The company had a trading volume of 547,436 shares, compared to its average volume of 882,010. National Grid Transco, PLC has a 1-year low of $55.82 and a 1-year high of $74.82. The company has a 50 day moving average of $71.73 and a 200 day moving average of $68.60. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.35 and a quick ratio of 1.30. The firm has a market cap of $70.82 billion, a price-to-earnings ratio of 13.73, a P/E/G ratio of 1.61 and a beta of 0.63.

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.