TD Private Client Wealth LLC Purchases 17,124 Shares of National Grid Transco, PLC (NYSE:NGG)

TD Private Client Wealth LLC increased its stake in shares of National Grid Transco, PLC (NYSE:NGG - Free Report) by 33.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 68,238 shares of the utilities provider's stock after acquiring an additional 17,124 shares during the period. TD Private Client Wealth LLC's holdings in National Grid Transco were worth $4,477,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in NGG. Raymond James Financial Inc. acquired a new stake in shares of National Grid Transco during the fourth quarter worth $67,324,000. FMR LLC raised its holdings in shares of National Grid Transco by 11.9% during the fourth quarter. FMR LLC now owns 4,462,898 shares of the utilities provider's stock worth $265,185,000 after acquiring an additional 473,172 shares during the period. D. E. Shaw & Co. Inc. raised its holdings 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 acquiring an additional 324,388 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of 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 acquiring an additional 228,179 shares during the period. Finally, Guardian Partners Inc. acquired a new stake in shares of National Grid Transco during the fourth quarter worth $9,849,000. 4.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NGG. Sanford C. Bernstein upgraded shares of National Grid Transco from a "market perform" rating to an "outperform" rating in a report on Monday, March 17th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of National Grid Transco in a research report on Wednesday, May 21st. Citigroup reaffirmed a "neutral" rating on shares of National Grid Transco in a research report on Tuesday, May 6th. Wall Street Zen downgraded shares of National Grid Transco from a "hold" rating to a "sell" rating in a research report on Friday, May 16th. Finally, BNP Paribas Exane assumed coverage on shares of National Grid Transco in a research report on Thursday, May 29th. They issued an "outperform" rating and a $80.40 target price for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $80.40.

National Grid Transco Stock Down 0.7%

National Grid Transco stock traded down $0.48 during mid-day trading on Tuesday, reaching $70.46. The company's stock had a trading volume of 678,972 shares, compared to its average volume of 911,953. The company has a market capitalization of $68.94 billion, a price-to-earnings ratio of 13.55, a price-to-earnings-growth ratio of 1.68 and a beta of 0.63. National Grid Transco, PLC has a 12 month low of $55.82 and a 12 month high of $74.82. The business's 50 day simple moving average is $71.94 and its 200 day simple moving average is $66.02. 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 Cuts Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Monday, July 28th. Stockholders 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 presently 78.08%.

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.