Summit Securities Group LLC Buys Shares of 5,142 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 bought a new stake in National Grid Transco, PLC (NYSE:NGG - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund bought 5,142 shares of the utilities provider's stock, valued at approximately $337,000.

Several other large investors have also recently made changes to their positions in the company. Federated Hermes Inc. lifted its stake in shares of National Grid Transco by 49.8% in the 1st quarter. Federated Hermes Inc. now owns 3,133,548 shares of the utilities provider's stock valued at $205,592,000 after purchasing an additional 1,041,918 shares during the period. Raymond James Financial Inc. lifted its stake in shares of National Grid Transco by 22.7% in the 1st quarter. Raymond James Financial Inc. now owns 1,389,661 shares of the utilities provider's stock valued at $91,176,000 after purchasing an additional 256,645 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of National Grid Transco by 19.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 1,372,417 shares of the utilities provider's stock valued at $90,044,000 after purchasing an additional 228,179 shares during the period. Merewether Investment Management LP lifted its stake in shares of National Grid Transco by 10.3% in the 4th quarter. Merewether Investment Management LP now owns 1,053,461 shares of the utilities provider's stock valued at $62,597,000 after purchasing an additional 98,461 shares during the period. Finally, LPL Financial LLC lifted its stake in shares of National Grid Transco by 13.1% in the 1st quarter. LPL Financial LLC now owns 883,960 shares of the utilities provider's stock valued at $57,997,000 after purchasing an additional 102,388 shares during the period. 4.68% of the stock is currently owned by institutional investors and hedge funds.

National Grid Transco Price Performance

Shares of NYSE NGG traded up $0.10 during mid-day trading on Friday, reaching $71.53. The company's stock had a trading volume of 258,491 shares, compared to its average volume of 878,070. The stock has a 50-day moving average of $71.70 and a two-hundred day moving average of $68.66. The stock has a market capitalization of $70.97 billion, a P/E ratio of 13.75, a P/E/G ratio of 1.63 and a beta of 0.63. 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, PLC has a 1-year low of $55.82 and a 1-year high of $74.82.

Analyst Upgrades and Downgrades

NGG has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of National Grid Transco in a research note on Wednesday, May 21st. Wall Street Zen cut shares of National Grid Transco from a "hold" rating to a "sell" rating in a research note on Friday, May 16th. BNP Paribas upgraded shares of National Grid Transco from an "outperform" rating to a "strong-buy" rating in a research report on Thursday, May 29th. Royal Bank Of Canada cut shares of National Grid Transco from an "outperform" rating to a "sector perform" rating in a research report on Wednesday, May 28th. Finally, Citigroup restated a "neutral" rating on shares of National Grid Transco in a research report on Tuesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, National Grid Transco currently has a consensus rating of "Moderate Buy" and a consensus 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.